2020 Office Space Rent & Sales
- $21.08 2020 Avg. Asking Rent
- 12.81% 2020 Office Vacancy Rate
Mesa office price per square foot in 2020 was $21.08 on average. The local office market recorded an average vacancy rate of 12.81% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Mesa Class A Office Space$24.61
- Mesa Class B Office Space$20.64
- Mesa Class C Office Space$18.47
- Arizona Class A Office Space$31.44
- Arizona Class B Office Space$22.72
- Arizona Class C Office Space$18.60
Mesa, AZ Office Asking Rents by Class
Average office rent in Mesa rested at $21.08 per square foot in 2020. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Mesa averaged $24.61 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.64 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $18.47 per square foot, on average. Comparably, statewide Arizona average office rents by class in 2020 were: $31.44 per square foot for class A office space; $22.72 per square foot for class B office space; $18.60 per square foot for class C office space.
2020 Office Construction in Mesa, AZ
- Mesa, AZ Total Sqft completed in 2020
- Mesa, AZ Total Sqft under construction in 2021 245,164
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Mesa office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 245,164 square feet of office space to the market, before year-end.
| Office building | Address | Sqft | Completed |
|---|---|---|---|
| Waypoint 4 | 1130 North Alma School Road, 85201 | 152,540 | 2017 |
| Centrica | 1550 West Southern Avenue, 85202 | 116,982 | 2015 |
| Waypoint 3 | 1150 North Alma School Road, 85201 | 108,956 | 2015 |
| 1705 West Main Street | 1705 West Main Street, 85201 | 42,508 | 2013 |
| 120 West 1st Avenue | 120 West 1st Avenue, 85210 | 95,186 | 2012 |
| Banner Gateway Medical Pavilion | 1920 North Higley Road, 85234 | 30,774 | 2011 |
| Banner Corporate Center | 525 West Brown Road, 85201 | 254,000 | 2009 |
| Odyssey Professional Park | 2045 South Vineyard, 85210 | 140,747 | 2008 |
| Waypoint 2 | 1146 North Alma School Road, 85201 | 83,264 | 2008 |
| Waypoint 1 | 1138 North Alma School Road, 85201 | 81,597 | 2008 |
Worth noting among recent office completions on the Mesa market is Waypoint 4, which is currently the largest new office development in the city, at 152,540 square feet.
See reports for nearby markets
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Mesa commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.