The typical asking rate per listing is in the $30's per square foot per year. The Wellington Place submarket is going through a an increase in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 16% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Wellington Place region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 36 listings have been listed, which means spaces might be going fast. 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 3,159 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 15 stories. Most buildings in this market were built in 1985 and are Class C.
Health care is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Wellington Place folk. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.