Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Tempe submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 25% of the office spaces in the Downtown Tempe are subleases, so you might be able to find a shorter term or below market rent. 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 5,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are around 8 stories. Most buildings in this area were built in 1991 and are Class B.
Information is the dominant industry in this region. 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.