The typical asking rate per listing is in the $30's per square foot per year. The Downtown Tempe region is seeing a a rise in rates. In the last 3 months, the median rate went up $32 per sqft per year.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Tempe submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 7 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 71% of the available leases 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.
The standard measurement for office space in this area is around 470 sqft. Most buildings in this region are close to 8 floors. Most buildings in this market 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.