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Finding Phoenix office space on your own can be a long, inefficient, tedious headache and the final choice you make can really impact your organization’s bottom line – positively or negatively. Complex legal documents required for securing a business location can be difficult to understand and contain potentially costly clauses stated in confusing legal terms. You’d have to be an expert in such documents to ensure you aren’t taken advantage of. The good news is that you can have a representative who knows all about every aspect of obtaining Phoenix office space on your side by working through the office space location process with a LOCAL OfficeFinder Phoenix office space professional – plus our service is FREE.

Phoenix, Arizona is a great location for your business to locate its office space for many reasons. The dry climate and moderate winters attract nearly 1.5 million residents; beautiful landscapes, Southwestern historic sites, desert flora and fauna, as well as the nearby mountains ranges attract many visitors and conventions, creating a huge number of potential customers for your business. Petsmart and Honeywell Aerospace are notable companies making Phoenix their home base.

With 81 million square feet of office space in Phoenix and the surrounding markets, high vacancy rates, it is a tenant’s market. There are many good opportunities to lease, rent or buy office space, but the trick is to fully understand the market and its idiosyncrasies. That’s what we do well. Our local office specialists work in the market on a daily basis. They know all of the major players and what deals are being made by whom.

The major office markets in the Metro Phoenix area include:

Central Business District: Has both Class A & B office space is located mostly in high-rise office buildings. Metro Light Rail stations easily accessibly; City, County, State and Federal Courts System, City Hall and State Capital all in market; Sports and Entertainment venues include Chase Field and US Airways Center; Phoenix Convention Center and over 1500 hotel rooms in immediate area.

Scottsdale: Offers Class A & B mid-rise office buildings. Multiple high-end Retailers located in Scottsdale Fashion Square, Scottsdale Quarter, The Promenade and other high shops. Golfing and Resorts include the TPC Scottsdale- home to the Phoenix Open, and the Scottsdale Princess Resort. Multiple high-end restaurants and eateries throughout.

Northwest including Glendale: Class B & C Properties. Home to The Arizona Cardinals and Phoenix Coyotes at Westgate Center. Multiple hotels, restaurants, movie theaters and convention center at Westgate project. Multiple retail shops and national chains throughout project.

West and Southwest Phoenix: Mostly contains Class B & C office properties, flex and industrial properties. Access from I-10 and Loop 101. Gateway Center located at apex of 101 & I-10 is home to 1 million square feet of retail services including bank, restaurants, and hotels. Home to Banner Estrella Medical Facility.

East Phoenix/ Sky Harbor Airport: Class A, B and C Office buildings are mainly a combination of mid-rise and low-rise with some flex and industrial properties. Located within minutes of Sky Harbor Airport with over 1,200 flights per day. Close proximity to Arizona State University in Tempe, home to over 60,000 students. Arterial freeway system with easy citywide access using SR 143, I-10, Loops 101 & 202 freeways.

Southeast Valley including Chandler, Mesa, Gilbert, and Apache Junction: Class A, B and C Office buildings, mid-rise, low-rise, flex and industrial properties. Office buildings mostly focused off of Loop 101 & 202 freeways. Home to rapidly growing Price Road corridor, and the city of Chandler, which is the fastest growing labor base in Metro Phoenix.

Camelback - Paradise Valley: Camelback Corridor is our Prestige Corridor and many Regional HQ Tenants want Class A Office Space in this area. It is surrounded by Class A Retail amenities. The Camelback Corridor offers high water mark Lease rates, such as The Esplanade a 5 building Class A property quoting mid $30 lease rates. However, companies can find good quality space within the corridor at aggressively lower lease rates with assistance.

Let OfficeFinder’s Phoenix office space professionals assist you with our FREE service, making the process pleasant and hassle-free while avoiding potentially expensive mistakes. The process begins when you fill in the short, simple form above with very basic details. It’s very fast and easy. The right LOCAL OfficeFinder Phoenix office space expert will contact you to discuss your needs in detail before searching availabilities in Phoenix that fit your detailed requirements. You’ll choose site visits to only locations that you prefer and, upon selecting one, OfficeFinder will assist you through the complex negotiations, maintaining your best interests and helping you avoid signing an office sale or lease agreement you might later regret.

We’ll work with you to get the most benefits at the fairest price for the Phoenix office space for rent, lease or purchase you choose. From virtual office space or service executive suite to large multi-floor corporate headquarters, finish-to-suit space, retail or wholesale centers, or light industrial facilities, you shouldn’t go it alone when seeking Phoenix office space. Turn to the experts at OfficeFinder; you’ll save time, money and avoid those potentially expensive but all too common mistakes.

Phoenix Office Space Markets

When you move your office space in Phoenix, you aren't just moving in a hot climate – you're entering a hot market. Class A space is moving especially quickly, with twice the absorption as Classes B and C. Leading industries are real estate, financial services, retail, health care, and manufacturing.

About Phoenix

Phoenix, amazingly, started out as a single farm. Within a year, it had attracted enough people to reach township status, and a month after that, it gained its first office: the local Post Office. A telegraph office came along in the 1870s. While there wasn't much need for offices back then, the township had a definite call for saloons. There were 16 of these establishments, along with a few dance halls, all for a town of just 2,500 people. This population level was enough for it to advance to city status, which it attained in 1881.

Since then, Phoenix has seen massive growth and change. It got its first skyscraper way back in 1920, moved from cotton growing into manufacturing, and now, is home to many financial and real estate firms. Science, tech, and retail companies also love the hot, dry environment, with Honeywell Aerospace, PetSmart, PayPal, and American Express all among the many that either call Phoenix home or that have major branches there.

The Phoenix Workforce

Education is a high priority in the Phoenix area, and initiatives to enhance it start as early as grade school. Upon graduation from public school, residents find a number of private options for their higher educational needs. These range from the University of Phoenix to Arizona State University's Phoenix Campus. Numerous other options are also available.

All of this education leads to a workforce that is excellently prepared to handle tech, finance, real estate, and other such employment. Many companies move here to tap into this talent, and areas that have plenty of college students and graduates command high rents due to this factor.

Getting Around

The Phoenix Greater Metropolitan Area makes travel easy, and this is another driver for the area's desirability. A light rail system runs between Phoenix, Mesa, and Tempe. Buses connect the two nearby airports to Phoenix and Flagstaff, and the city has a local bus system as well. Despite this, walkability is the biggest draw when it comes to transportation, and as you'll see in the Submarkets section, some areas command higher rents specifically because of this factor.

When traveling by car, residents and visitors are pleasantly surprised to find that the road system is extensive enough to avoid congestion despite the large size of the city. These roads are mostly funded by a half-cent addition to the local sales tax rather than with federal money, though there are some federal highways present as well.

Phoenix is also the 15th-most bicycle-friendly city out of 50 with populations over 100,000, according to a rating done by Bicycling Magazine. All in all, the area is very good for people who want to be able to get around, whether they do so by their own physical power or by using any type of motorized transport.

Overview of the Phoenix Office Space Market

In recent years, rents in the Greater Phoenix Area have been rising quickly, but recently, this trend cooled slightly. Even so, landlords are still much more likely to offer free rent deals to new tenants rather than agreeing to a long-term rent discounts. This is despite almost 2,000,000 square feet of space being brought into the Phoenix market in 2017.

Spotlight on Select Submarkets

CBD vs. Suburban - As in other places, you can find a wide variety of leasing environments depending on which submarket you choose. According to a CRESA report, the Central Business District is hot, with leasing rates averaging $28.22 for Class A space, and $22.37 for Class B. Vacancies are rising for the former and falling for the latter.

In the suburban Phoenix areas, rates average $29.98 for Class A space and $22.75 for Class B. Here, vacancy rates are only slightly up – by 0.5% - for the Class A space, and down by 0.5 percent for the Class B option. However, vacancies are lower overall in the suburban markets than they are for the Central Business District, CRESA says.

Tempe – This suburb is leading the area in net absorption thanks to tenants like Freedom Financial moving into build-to-suit space. The move took 150,000 square feet out of circulation.

Scottsdale Airpark, Metrocenter, and South Scottsdale – These areas posted between 85,000 and 89,000 square feet of absorption, giving them strong showings in the last quarter. A CBRE report mentions the arrival of General Dynamics as a driver of Metrocenter's absorption, while Scottsdale Airpark's absorption was driven by a variety of smaller leases being signed. In South Scottsdale, Oracle, Mass Mutual, and Stream Logistics were among the notable arrivals.

South Airport – Eagle Home Mortgage and "a large e-commerce user" grabbed up 92,000 square feet and almost 54,000 square feet, respectively, in The Alameda.

Camelback Corridor – CBRE mentions this submarket, along with those of Tempe and South Scottsdale, as having the highest average rental rates in the area. These prices are being fueled by a combination of access to talent and walkable amenities.

Chandler – New construction is the highlight of this area. The Rivulon, with 60,000 square feet, and The Stearman, with 65,000 square feet, are the latest notable developments. The HUB, with 292,000 square feet, also completed renovations and is open for leasing.


The CBRE predicts that the economic outlook will remain positive for the rest of 2018 thanks to low levels of new supply and good employment figures. Both population and employment are expected to grow at about 2 percent for the remainder of the year. With the exception of the Chandler submarket, supply-and-demand ratios are expected to remain healthy. Chandler is predicted to end up with a slight oversupply of space, which could dampen rising rent costs in that area or even push them down a bit.

Get Help Finding Your Perfect Phoenix Office Space

We are experts at helping new arrivals navigate the leasing market. Our experts are active in over 550 areas, and we work with top commercial real estate firms as well as boutiques to find the best offerings and deals. If you're coming to Phoenix, be sure to talk to us. We'll be glad to help make your move as simple and stress-free as possible.

Useful Statistics for businesses looking for office space in Phoenix
  Phoenix AZ State
2020 Estimated Population 1,658,422 7,174,064
Median Age 33.9 37.9
Occupied 322,758 1,727,176
Owned 937,262 4,596,568
Rented 680,837 2,339,410
Average Household Size 2.82 2.65
Rental Vacancies 11,209 53,207
Homeowner Vacancies 4,276 28,681
Median Home Value $250,800 $242,000
Median Monthly Rental Cost $1,100 $1,097
Median Household Income $31,821 $31,383
Individuals below poverty level 123,925 565,367
Educational Attainment: High school graduate 250,418 1,151,988
Educational Attainment: Some College 322,145 1,637,451
Educational Attainment: Bachelor degree or higher 198,257 911,228
Commute 689,941 2,709,243
Commute by car, truck or other vehicle - Drive Alone 590,809 2,369,970
Commute by car, truck or other vehicle - Carpool 99,132 339,273
Use Public Transportation 21,987 50,759
Work from Home 67,343 282,334
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