On average, listings lease in the $20's per square foot per year. The Downtown Phoenix region is experiencing a decline in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 19% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Phoenix region has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 20 listings have been listed, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,100 sqft. Most properties in this region are around 18 floors. Most buildings in this area were built in 1965 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Downtown Phoenix folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.