On average, listings lease in the $40's per square foot per year. The Waterfront region is seeing a a rise in rates. In the last 3 months, the median rate increased $48 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Waterfront region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 1 listings have been posted online, which means new availabilities 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.
Even though the median size is 4,710 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are approximately 3 floors. Most buildings in this market were built in 2006 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Most of the residents of Waterfront work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.