The typical asking rate per listing is in the $20's per square foot per year. The Monterey Arcadia submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 30% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Monterey Arcadia region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 22 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,240 sqft. Most buildings in this market are close to 1 floors. Most buildings in this area were built in 1983 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the residents of Monterey Arcadia work from home. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.