2023 Office Space Rent & Sales
- $24.62 2023 Avg. Asking Rent
- -3.50% Y-o-Y Avg. Asking Rent Change
- 16.95% 2023 Office Vacancy Rate
- $34.8M2023 Total Office Sales
- $122.82Avg. Sale Price/SF
Mesa office price per square foot in 2023 was $24.62 on average. This marked a -3.50% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 16.95% across all asset classes combined. The 7 transactions that closed here throughout 2023 amounted to a total sale volume of $34.8M. Mesa office space commanded an average sale price per square foot of $122.82.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Arizona Class A & A+ Office Space$32.35
- Arizona Class B Office Space$23.61
- Arizona Class C Office Space$27.68
Mesa, AZ Office Asking Rents by Class
2023 Office Vacancy Rates in Mesa
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Mesa | $24.61 | 16.64% |
Gilbert | $23.30 | 8.50% |
Mesa Office Sale Price per SF
- $122.822023 Avg. Price per SF
- -1.27%Y-o-Y Avg. PpSF Change
- $34.8M2023 Office Sales Volume
- 72023 Number of Transactions
Mesa, AZ Sale Price per SF Trend
- Mesa Avg. Sale Price per SF in 2023$122.82
- Arizona Avg. Sale Price per SF in 2023$180.53
2023 Office Sales Volume
- Mesa, AZ Total Office Sales Volume in 2023 $34.8M
- Mesa, AZ Total Number of Office Sales Closed in 2023 7
Coworking Spaces in Arizona
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2023 Office Construction in Mesa, AZ
- Mesa, AZ Total SF under construction in 2024 37,958
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 |
1010 S Crismon Rd | 1010 S Crismon Rd, 85208 | 5,050 | 2015 |
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 |
Mountain Vista Medical | 10238 East Hampton Avenue, 85209 | 97,549 | 2006 |
4360 East Brown Road | 4360 East Brown Road, 85205 | 17,333 | 2006 |
3550 East Southern Avenue | 3550 East Southern Avenue, 85204 | 6,550 | 2006 |
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.
See reports for other markets
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- Scottsdale Office Rent Price
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- San Antonio Office Rent Price
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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. 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.