On average, listings lease in the $30's per square foot per year. The Grayhawk submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $37 per sqft per year.
Compared to the rest of the Phoenix Metropolitan Area market, the Grayhawk submarket 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 office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 500% of the available space in the Grayhawk are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 1,170 sqft. Most buildings in this area are around 1 stories. Most buildings in this area were built in 2006 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Most of the occupants of Grayhawk work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.