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)
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
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 |
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 |
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 |
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.