On average, listings lease in the $30's per square foot per year. The Monterey Arcadia submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 59% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Monterey Arcadia submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 15 listings have been made available, which means office spaces 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 available, so finding a space for a small business might be tough.
Even though the median size is 4,270 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are approximately 2 floors. Most buildings in this region were built in 1983 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the residents of Monterey Arcadia work from home. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.