Most listings are in the $50's per square foot per year. The Downtown Tempe submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $29 per sqft per year. That's a 96% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Tempe region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 7 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 14% of the listings in the Downtown Tempe 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 15,710 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 8 floors. Most buildings in this area were built in 1991 and are Class B.
Information is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Downtown Tempe residents. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.