Mesa Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $23.08 2024 Avg. Asking Rent
  • 18.04% 2024 Office Vacancy Rate
  • $77.9M2024 Total Office Sales
  • $206.56Avg. Sale Price/SF

Mesa office price per square foot in 2024 was $23.08 on average. The local office market recorded an average vacancy rate of 18.04% across all asset classes combined. The 12 transactions that closed here throughout 2024 amounted to a total sale volume of $77.9M. Mesa office space commanded an average sale price per square foot of $206.56.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Arizona Class A & A+ Office Space$33.12
  • Arizona Class B Office Space$24.39
  • Arizona Class C Office Space$18.69

Mesa, AZ Office Asking Rents by Class

2024 Office Vacancy Rates in Mesa

Submarket Asking Rents Vacancy Rates
Gilbert $24.61 10.56%
Mesa $23.16 17.53%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Mesa market was 18.04% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Mesa was 10.56% in the Gilbert submarket, while the highest office vacancy in the market was 17.53%, recorded in Mesa.

Office Spaces for Rent in Arizona

Mesa Office Sale Price per SF

  • $206.562024 Avg. Price per SF
  • $77.9M2024 Office Sales Volume
  • 122024 Number of Transactions

Mesa, AZ Sale Price per SF Trend

  • Mesa Avg. Sale Price per SF in 2024$206.56
  • Arizona Avg. Sale Price per SF in 2024$155.40
The sale price for office space in Mesa averaged $206.56 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Arizona average office sale price during the same time period was $155.40 per square foot.

2024 Office Sales Volume

  • Mesa, AZ Total Office Sales Volume in 2024 $77.9M
  • Mesa, AZ Total Number of Office Sales Closed in 2024 12
A total of 12 deals closed on the Mesa office market in 2024, adding up to a yearly sales volume of $77.9M. Notably, the largest transaction on the market saw 7300 East Hampton Avenue change hands for $17,500,000 on 8/19/2024.

Largest Mesa Office Sales in 2024

Property name Address Date Price
7300 East Hampton Avenue 7300 East Hampton Avenue 8/19/2024 $17,500,000
Desert Pain Institute 6309 East Baywood Avenue 3/6/2024 $15,400,000
Superstition Springs Commerce Center - 1250 South Clearview Avenue 1250 South Clearview Avenue 8/9/2024 $9,100,000
1917 South Crismon Road 1917 South Crismon Road 1/22/2024 $8,145,264
Harris Professional Plaza 1550 East McKellips Road 11/12/2024 $6,175,000
Data provided by Commercial Edge

Coworking Spaces in Arizona

2024 Office Construction in Mesa, AZ

  • Mesa, AZ Total SF completed in 2024 37,958
  • Mesa, AZ Total SF under construction in 2025 26,955

During 2024, 37,958 square feet of new office space were delivered across the market. At the close of 2024, the Mesa office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 37,958 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 26,955 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Mesa
Office building Address SF Completed
10545 E Southern Ave 10545 E Southern Ave, 85209 2,361 2023
Union 2046 W. Riverview Auto Dr., 85201 239,411 2021
5215 E Southern Avenue 5215 East Southern Avenue, 85206 9,490 2021
2942 N Greenfield Rd 2942 N Greenfield Rd, 85215 2,935 2019
2045 S Vineyard, Bldg 1E, Ste 115 2045 S Vineyard, Bldg 1E, Ste 115, 85210 3,744 2009
4215 E McDowell Rd 4215 E McDowell Rd, 85215 152,909 2007
Canyon Springs Medical Plaza 2940 East Banner Gateway Drive, 85234 91,957 2007
Stapley Medical Center - 1840 South Stapley Drive 1840 South Stapley Drive, 85204 90,967 2007
4360 East Brown Road 4360 East Brown Road, 85205 17,333 2006
Stapley Medical Center - 1910 South Stapley Drive 1910 South Stapley Drive, 85204 90,967 2005

Worth noting among recent office completions on the Mesa market is 10545 E Southern Ave, which is currently the largest new office development in the city, at 2,361 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market 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.