Most listings are in the $30's per square foot per year. The Sonoran region is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Sonoran region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 34 listings have been posted online, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 53% of the office spaces in the Sonoran are subleases, so you might be able to snag a great spot on a short term. 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 5,960 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this region were built in 2005 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Sonoran residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.