What are the different types of commercial real estate?

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate . However, there are three main categories that you are most likely to come across: office, retail, and industrial space . Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Tempe commercial real estate market incorporates 25,334,866 square feet of office space across 268 buildings. Office buildings can also accommodate coworking spaces , which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis. In Tempe, the coworking segment of the commercial real estate market incorporates about 5,430 square feet. Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Tempe commercial real estate market includes 8,794,085 square feet of retail space in a variety of settings. Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Tempe market, there is a total of 19,168,776 square feet of industrial property.

What types of commercial real estate are available in Tempe, AZ?

The largest share of commercial real estate space for lease in Tempe is represented by Office space , which accounts for 3,497,433 square feet of available listings. Industrial space available in Tempe adds up to 2,544,603 square feet.

What factors affect the price of commercial real estate in Tempe, AZ?

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

What is the average rent for commercial space in Tempe, AZ?

The average rent for commercial real estate space listed for lease in Tempe is $19.8 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Tempe can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset. What’s more, each commercial property type makes its own rent market: while the average rent for office space rested at $27.62 per square foot, industrial space in Tempe saw average rents of $14.56 per square foot.

What are the best areas for commercial real estate in Tempe, AZ?

The best choice of location for commercial space depends on the factors that are most relevant to your business. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type. As such, there are several areas that you could consider to be the best location for commercial real estate in Tempe, depending on the property type you are interested in. The highest concentration of commercial space listings of any kind in Tempe is in the Hughes Acres neighborhood. But if we look at each commercial property type, we find that for office space, the best location is the Hughes Acres area . Meanwhile, retail space opportunities are most abundant in the Hughes Acres submarket. Alternatively, if you are looking for warehouse or other industrial space, consider looking at listings in Peterson Park . Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

How do I find a good commercial real estate broker?

Whether or not leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker . In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market , the property type you need representation for, and will handle negotiations on your behalf in your best interest. To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker . Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests. CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

What is the most profitable commercial real estate?

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $33 per square foot. In particular, the property type commanding the highest lease rates in Tempe was Office space. Conversely, the highest sale price last year was $19,407,430 that is located at 7410 South Roosevelt Street.

What is the average size of a commercial property in Tempe, AZ?

The average size of a commercial property in Tempe depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use: In Tempe, the average size of an office property is 100,535 square feet. Retail properties here incorporate an average of 64,190 square feet. Industrial space in Tempe is in buildings that are, on average 111,446 square feet in size.

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583 Commercial Real Estate Listings in Tempe, AZ

CRE Market Stats

8747 South Priest Drive

8747 South Priest Drive, Sandahl, Tempe, AZ
For Sale

$950,000
Property

Office

3,008 SF
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2177 E Warner Rd, Ste 101

2177 E Warner Rd, Ste 101, Warner Ranch, Tempe, AZ
For Lease

$25.75/SF/YR
Property

Office

12,000 SF
Availability

1 Space

3,000 SF
Year Built

2004
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Myrtle Ave & 7th St

Myrtle Ave & 7th St , Hughes Acres, Tempe, AZ
For Lease

Contact for pricing
Property

Office

6,606 SF
Availability

2 Spaces

4,111 SF
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The District at Tempe Marketplace

2000 E. Rio Salado Pkwy, Hughes Acres, Tempe, AZ
For Lease

Contact for pricing
Property

Retail

376,404 SF
Availability

8 Spaces

39,500 SF
Year Built

2007
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Freestanding Industrial Flex Space for Sale in Tempe

2130 E University Dr, Hughes Acres, Tempe, AZ
For Sale

$3,300,000
Property

Industrial

14,838 SF
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Retail property in Tempe, AZ

1324 W. University Drive, Peterson Park, Tempe, AZ
For Lease

$24.00/SF/YR
Property

Retail

4,740 SF
Availability

2 Spaces

4,740 SF
Year Built

1962
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University Square

215 West University Drive, Peterson Park, Tempe, AZ
For Lease

$1.58/SF/MO
Property

Retail

38,652 SF
Availability

2 Spaces

2,994 SF
Year Built

1971
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Park Garden at Fountainhead

1620 W Fountainhead Parkway, Peterson Park, Tempe, AZ
For Lease

$32.00/SF/YR
Property

Office

123,057 SF
Availability

5 Spaces

42,780 SF
Year Built

1985
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6323 S. Rural Road

6323 S Rural Rd, Optimist Park, Tempe, AZ
For Lease

Contact for pricing
Property

Retail

8,750 SF
Availability

2 Spaces

2,475 SF
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655 West Elliot Road

655 West Elliot Road, Sandahl, Tempe, AZ
For Lease

$1.00/SF/MO
Property

Industrial

27,000 SF
Availability

1 Space

27,000 SF
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Harbor View Business Park

2209, 2211 W 1st St, Peterson Park, Tempe, AZ
For Lease

$1.20/SF/MO
Property

Industrial

39,050 SF
Availability

1 Space

1,305 SF
Year Built

1988
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Rio West Business Park - Building D

1621 West Rio Salado Pkwy, Peterson Park, Tempe, AZ
For Lease

$20.00/SF/YR
Property

Office

51,789 SF
Availability

1 Space

51,789 SF
Year Built

2007
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1444 W Auto Dr

1444 W Auto Dr, Sandahl, Tempe, AZ
For Lease

$21.50/SF/YR
Property

Office

17,412 SF
Availability

1 Space

17,412 SF
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MicroAge Headquarters

8160 South Hardy Drive, Sandahl, Tempe, AZ
For Lease

$16.00/SF/YR
Property

Office

95,070 SF
Availability

1 Space

29,336 SF
Year Built

1997
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1718 W 3rd St

1718 W 3rd St, Peterson Park, Tempe, AZ
For Lease

$1.35/SF/MO
Property

Industrial

10,107 SF
Availability

1 Space

10,107 SF
Year Built

1981
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1911 East Apache Boulevard

1911 East Apache Boulevard, Hughes Acres, Tempe, AZ
For Sale

Subject To Offer
Property

VacantLand
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Tempe Industrial Park

1819, 1825, 1829, 1839 & 1849 W. Drake Dr., Pepperwood, Tempe, AZ
For Lease

Contact for pricing
Property

Industrial

202,941 SF
Availability

1 Space

4,112 SF
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Ahwatukee Square

NWC 48th St & Warner Rd, Ahwatukee Foothills, Phoenix, AZ
For Lease

Contact for pricing
Property

Retail

40,984 SF
Availability

1 Space

1,076 SF
Year Built

1995
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Southwind Plaza

909 East Elliot Road, Sandahl, Tempe, AZ
For Lease

Contact for pricing
Property

Retail

86,560 SF
Availability

13 Spaces

86,560 SF
Year Built

1986
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Baseline Industrial Center

5235, 5245, 5255 S Kyrene Rd, Pepperwood, Tempe, AZ
For Lease

$1.20 - $1.35/SF/MO
Property

Industrial

110,900 SF
Availability

3 Spaces

2,250 SF
Year Built

1986
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904 North Scottsdale Road

904 North Scottsdale Road, Rio, Tempe, AZ
For Lease

Contact for pricing
Property

Retail

8,406 SF
Availability

3 Spaces

6,868 SF
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Quadrum

1330 W Southern Avenue, Peterson Park, Tempe, AZ
For Lease

$26.00/SF/YR
Property

Office

150,000 SF
Availability

1 Space

46,046 SF
Year Built

1998
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WORKSPACE TEMPE

1505-1575 West University Dr, Peterson Park, Tempe, AZ
For Lease

Contact for pricing
Property

Office

88,384 SF
Availability

1 Space
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Park Lane Industrial Park

940 & 1000 S Park Lane, 2400 & 2440 W Medtronic Way, Peterson Park, Tempe, AZ
For Lease

$1.25/SF/MO
Property

Industrial

51,040 SF
Availability

1 Space

1,300 SF
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Warner Village

8611 South Priest Drive, Sandahl, Tempe, AZ
For Sale

Contact for pricing
Property

Office

2,539 SF
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420 South Mill Avenue

420 South Mill Avenue, Hughes Acres, Tempe, AZ
For Lease

Contact for pricing
Property

Office

29,100 SF
Availability

2 Spaces

4,536 SF
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