Phoenix, AZ Office Spaces for Rent
Find your best Phoenix, AZ office space among 1,157 for rent listings, which average an asking price of $27.58 per square foot.
Asking prices vary based on the property location, rating, amenities such as proximity to restaurants, cafes, and entertainment venues, as well as convenience of access to public transport, airports, and thoroughfares.
The average rent for office space in Phoenix is $27.58 per square foot. The minimum rental rate for office space in Phoenix is $11.95 per square foot. Among listings of office space currently available for lease in Phoenix, the maximum rental rate is $34 per square foot.
For more details on Phoenix office space rent and sales prices, as well as overall market quality and new construction data, see Phoenix Office Market Trends.
Most experts recommend an average of between 75 and 150 square feet of office space per person. However, it is important to keep in mind that how much office space you ultimately need depends on your activity and how you need to use the space, as much as it does on how many people it should accommodate. If you already know what size office would best suit your needs, use the available space size filter at the top of the search page to focus your search on the best fit for you.
However, there is a variety of differently sized opportunities below that maximum. For your consideration, the median size of an office space for lease in Phoenix is 3,055 square feet, and the average office space size here is 7,348 square feet.
You can find 1,157 office listing(s) for lease in Phoenix, which add up to a total of 8,637,356 square feet. Availability on the market includes a variety of office use types, such as General Office, Medical Office, Flex - Office, Shared Space, Creative Office.
The most common office use type currently available for lease in Phoenix is General Office, which is offered in 790 or 68.64% of listings. The second-most frequent office use type listed here is Medical Office, which account for 84 or 7.30% of office space currently available. On the other end of the spectrum, the office use type least common among local listings is Strip Retail, which is available in 1 listing(s).
You can search 109 office sublease listing(s) in Phoenix, which amount to a total of 1,296,008 square feet. Sublease opportunities on the market include General Office, Shared Space, Creative Office. The Phoenix neighborhood or submarket with the most sublease listings available is North Mountain Village.
The best choice of neighborhood for your office space will greatly depend on the elements that are most relevant to your business and your employees. However, a good criterion to start with is to look at the areas of the city that have the highest concentration of office properties, as these areas are generally well connected to transit options and have a good degree of amenity availability.
In Phoenix, the greatest concentration of office space for lease opportunities is in Encanto Village, North Mountain Village, Camelback East.
Each individual’s commuting experience will of course be different depending on a number of factors. Check the location description details for the office listings that catch your eye, to get an overview of walkability, access to public transport, the quality of infrastructure dedicated to biking commuters, as well as the proximity to parking facilities, fuel stations, and other essential amenities.
The Phoenix office market incorporates a mix of properties of various ages, ratings, construction grades, and other quality indicators. Roughly 28.95% of total office space listings in the city are in properties rated Class A. You will find the highest concentration of Class A office space in the Biltmore neighborhood of Phoenix. Class B office space accounts for 52.46% of spaces listed on the leasing market. The neighborhood with the most Class B office space is Encanto Village. Class C office space makes up 8.56% of office space available in Phoenix.
Buildings completed in and since the year 2000 account for 24.34% of office properties in the city and incorporate a total of 7,679,925 square feet. About 7.94% of office space in Phoenix is in buildings that have been renovated at least once since 2000.
Out of the office space listings currently available in Phoenix, you can find 47 LEED-certified or LEED-proposed option(s). Across the city, about 14% of office space is green, which amounts to 65,843,825 square feet. A total of 12 building(s) here earned a LEED-certification — certification levelPlatinum (1), Gold (7), Silver (3).
There are, of course, a lot of things to factor in when you are looking for office space. Aspects including the accessibility of the location, the quality of the facility, the size of the space, the convenience of nearby amenities, the type and duration of the lease, and of course the cost are all part of the search and decision process. For a quick checklist of what you should take into account when researching the market, consider these seven tips for choosing the best office location for your business. Alternatively, for a comprehensive take on everything to consider when looking for office space, see our in-depth guide to finding office space for small or growing companies. The guide also includes insights from seasoned professionals and can serve as a helpful resource for growing companies, no matter their current size.
Are you looking to lease office space in the vicinity of your current location or in a particular neighborhood of Phoenix? Using the interactive map, you can easily navigate to your preferred location and customize your search area around a specific point of interest. Select “Radius” from the Search Mode options menu, click on the map to set your search reference point, and expand the radius to select your desired search area. Browse available listings to find the best office space that meets your location, as well as other business needs.
There are a number of factors that make a city attractive for businesses to relocate or expand, as well as for investors to enhance their portfolios through local acquisitions. Among the most important factors to consider are the size and quality of the local office market, which is an essential component of the local economy.
| Building Size Range | Total Square Feet | Share of Total Office |
|---|---|---|
| 50k to 100k Sq. Ft. | 16,146,508 Sq. Ft. | 24.59% |
| 100k to 500k Sq. Ft. | 36,456,586 Sq. Ft. | 55.52% |
| 500k to 1M Sq. Ft. | 5,172,118 Sq. Ft. | 7.88% |
| Class | Total Square Feet | Share of Total Office |
|---|---|---|
| Class A | 26,210,756 Sq. Ft. | 39.91% |
| Class B | 35,447,597 Sq. Ft. | 53.98% |
| Class C | 4,010,043 Sq. Ft. | 6.11% |
One of the most important aspects of quality regarding modern office space is the use of sustainable building practices. Green certification is one of the most employed methods used to quantify that in any real estate market.
Roughly 14% of the total Phoenix office inventory - adding up to 65,843,825 square feet - is classified as green office space.
| Total Square Feet | Total Green Square Feet | Green Share of Total |
|---|---|---|
| 65,843,825 Sq. Ft. | 8,928,271 Sq. Ft. | 14% |
14% Green
Green Office Inventory
The Phoenix office market is vast. Inexpensive, developable land has been a draw for companies for decades. Add in one of largest universities in the country and you have an environment rife with business opportunity. In particular, the downtown area is revitalizing and growing once again, while the north and east valley have seen much development in recent years. Tempe, Scottsdale, Chandler, downtown Phoenix and the Central Corridor are some of the most desired office locations in the valley.
Large, suburban markets were the reason for the Western region’s growth, with 81% of all office properties built since 2002 being in the suburbs of cities like Phoenix, Denver, Las Vegas, and Salt Lake City.
Full-service equivalent listing rates for office space were up 1.8% year-over-year (Y-o-Y) in December across the top 50 U.S. markets. For instance, the average rent for Phoenix office space rose to $30.01 per square foot — an increase of 9.5% Y-o-Y.
Tenant amenities at The Monroe include bicycle storage, a fitness center, a conference and training facility, a 2nd floor tenant lounge that opens to 1st Ave, and a Hidden Track café and coffee shop. The tenant roster features integrated benefits network startup Solera Health, meal delivery service Freshly, and software company Integrate.
The largest deal for Phoenix office space was also a complex: A partnership headed by Monarch Alternative Capital acquired four buildings of the Esplanade office park situated in the city’s high-demand Camelback Corridor neighborhood for a reported $500 million.
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