Most listings are in the $30's per square foot per year. The Downtown Phoenix region is going through a decrease in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 28% decline in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Phoenix submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 35 listings have been made available, which means leases might be leasing quickly. 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.
Even though the median size is 3,130 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 18 stories. Most buildings in this market were built in 1969 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Waste services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Phoenix occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.