Mesa Office Market Trends

Office Rental Market

  • $23.57 2019 Avg. Asking Rent
  • 9.33 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 272,948 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Mesa was $23.57 per square foot, and the office vacancy rate across the market averaged 9.33 %. During 2019, developers added 0 square feet of new office space to the Mesa market inventory. Office developments estimated for delivery during 2020 total 272,948 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Mesa Class A Office Buildings$29.58
  • Mesa Class B Office Buildings$22.80
  • Mesa Class C Office Buildings$14.86
  • AZ Class A Office Buildings$31.21
  • AZ Class B Office Buildings$22.48
  • AZ Class C Office Buildings$17.99

Mesa, AZ Office Asking Rents by Class

Office asking rents vary across the Mesa office market depending on several factors, one of which is property class. While rents for Class A office buildings in Mesa averaged $29.58 per square foot in 2019, Class B office properties garnered average rental rates of $22.80 per square foot. Rental rates for Class C office property in Mesa averaged $14.86 per square foot. On a statewide level, Class B office space rents averaged $22.48 per square foot, while rents for Class A office space across Arizona averaged $31.21 per square foot. On average, Class C office properties in Arizona commanded rents of $17.99 per square foot.

OFFICE CONSTRUCTION IN Mesa, AZ

  • Mesa, AZ Total Sqft completed in 2019 0
  • Mesa, AZ Total Sqft under construction in 2020 272,948
10 Largest Office Buildings in Mesa
Building name Address Total Sqft Year built
Mesa Financial Plaza 1201 South Alma School Road, 85210 325,788 1986
Mesa Financial Plaza 1201 S Alma School Road, 85202 306,571 1986
Banner Corporate Center 525 West Brown Road, 85201 254,000 2009
Pierpont Commerce Center 4838 East Baseline Road, 85206 241,432 2002
Waypoint 4 1130 N Alma School Road, 85201 152,540 2017
Odyssey Professional Park 2045 South Vineyard, 85210 140,747 2008
Arizona Health & Technology Park 5835 East Still Circle, 85206 129,000 2004
7300 East Hampton Avenue 7300 East Hampton Avenue, 85209 125,369 1994
Centrica 1550 West Southern Avenue, 85202 116,982 2015
Waypoint 3 1150 North Alma School Road, 85201 108,956 2015
Largest Office Properties Recently Completed in Mesa
Office building Address Sqft Completed
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
Canyon Springs Medical Plaza 2940 East Banner Gateway Drive, 85234 91,957 2007
Data provided by Commercial Edge

Office Spaces for Rent in Arizona

MESA OFFICE SALES TRENDS

  • $116.732019 Avg. Price per Sqft
  • -14.66 %Y-o-Y Avg. PpSF Change
  • $138.5M2019 Office Sales Volume
  • 62019 Number of Transactions

In 2019, office sales in Mesa averaged $116.73 per square foot. This marked a -14.66 % decrease in office price per square foot, compared to the previous year. A total of 6 office sales closed on the Mesa office market in 2019, amounting to a total sales volume of $138.5M.

Average Office Sale Price per Sqft

Mesa, AZ Sales Trends

  • Mesa Price per Sqft$116.73
  • Arizona Price per Sqft$186.81

Office Sales - Trend and Volume

  • Mesa, AZ Total Office Sales Volume in 2019 $138.5M
  • Mesa, AZ Total Number of Office Sales Closed in 2019 6

Largest Mesa Office Sales in 2019

Property name Address Date Price
Waypoint 4 1130 North Alma School Road 8/14/2019 $38,514,510
Waypoint 3 1150 North Alma School Road 8/14/2019 $27,510,080
Waypoint 2 1146 North Alma School Road 8/14/2019 $21,023,160
Waypoint 1 1138 North Alma School Road 8/14/2019 $20,602,260
Fiesta Tech Business Center 2150 South Country Club Drive 3/20/2019 $11,375,000
Data provided by Commercial Edge

See trends for nearby markets

The Mesa office market contains an inventory of 6,937,444 square feet of office space, in 349 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.