Mesa, AZ - Office Market Overview
The Mesa real estate market includes the Alta Mesa, Dobson Ranch, and Falcon Field office space submarkets. While the city proper is home to over 480,000 residents, Mesa is also part of the much larger Phoenix metropolitan area, which is home to over 4.5 million people. Located between the neighboring cities of Tempe, Chandler and Gilbert, Mesa is home to a diverse mix of businesses of all sizes that sustain the demand for Class A office space in the area.
As of mid-2017, the Mesa office market encompasses nearly 4.2 million square feet of existing office space in properties larger than 50,000 square feet. As the third-largest city in the State of Arizona, there is a steady, predictable demand for commercial real estate in Mesa, AZ.
Mesa, AZ - Office Inventory Description
A variety of industry sectors create demand for white collar office space in Mesa, including the growing high-technology sector, aerospace, light manufacturing, and healthcare. Mesa does its part in contributing to the Phoenix metro area's gross annual metropolitan product of almost $209 billion.
One of the office submarkets in Mesa that sees consistently strong demand from both tenants and investors alike is the Superstition Springs office submarket. Located north and south of State Route 60 and just west of the Loop 202, this area is home to newer, investment-grade office buildings such as the Superstition Springs Center on South Clearview Avenue, the Superstition Springs Business and Office Park - Westwind Terrace, and the Village at Superstition Springs at 6642 E. Baseline Road.
Mesa, AZ Commercial Inventory Breakdown
Total: 7,751,825 SF
By square footage range:
- 50k to 100k SF: 3,664,851 SF / 47.28% of total office
- 100k to 500k SF: 4,086,974 SF / 52.72% of total office
- Class A: 1,351,021 SF / 17.43% of total office
- Class B: 3,945,627 SF / 50.9% of total office
- Class C: 261,177 SF / 3.37% of total office
Mesa, AZ - Green Office Space
The Phoenix metro area is one of the top 30 office markets in the U.S. The 2017 National Green Building Adoption Index surveyed these markets for the percentage of energy-efficient, green office space. The Phoenix metro area came in 21st on the list for green building adoption.
The environmental and financial benefits of green office space to both tenants and office buildings investors is becoming clearer as the years go by. In Mesa, an excellent example of a green office building is the nearly 83,000-square-foot Stapley Center on 1630 South Stepley Drive. Built in 2000, this Class A office property is located in the Powell Estates office submarket and holds an EPA Energy Star rating for energy-efficient office space.
Mesa, AZ's Top Office-Using Sectors
The demand for office space in Mesa is created by a variety of top office-using business sectors, including the healthcare, government, retail, and education industries.
- Healthcare – Demand for white-collar office space in Mesa is created by organizations such as the Banner Health System and the numerous healthcare professionals that work within the system.
- Government – The City of Mesa and the Maricopa County Government are two of the largest office-using entities in this business sector.
- Retail – Walmart, Fry's Food and Drug, The Home Depot, and the nearly countless vendors that service these large retailers also are heavy users of office space in Mesa, Ariz.
- Education – Demand for white-collar employment comes from educational institutions such as Mesa Public Schools, Gilbert Public Schools, Mesa Community College, and the Polytechnic Campus of Arizona State University.
- Total Population479,317
- Male Population(49.4 %) 236,580
- Female Population(50.6 %) 242,737
- Median Age35.90
- Average Household Income$69,553
- Median Household Income$52,155
- Median Income Under 25$30,947
- Median Income 25-44$52,901
- Median Income 45-64$65,475
- Median Income Over 65$43,124
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