Find Scottsdale Office Space for Rent
Scottsdale is a desert city in Arizona that the New York Times called “a desert version of Miami’s South Beach.” Named after 1984 founder Winfield Scott, the city’s slogan is “The West’s Most Western Town.” Scott purchased the area—which was originally known as Orangedale—because of its potential for agriculture. Winfield and his brother George were the city’s first inhabitants. After its official incorporation in 1951, Scottsdale became the sixth-largest city in the state. People often reference the city’s high quality of life, and though it was originally used for farming, it’s now primarily a tourist destination.
Scottsdale is part of the Phoenix Metro Area and is known for its high-end shopping options. The city generates most of its revenue through tourism; it is a popular destination for the white-collar demographic in particular and houses more than 70 resorts and hotels.
Scottsdale Office Space | Lease Data and Trends
Scottsdale commercial real estate rental prices are very reasonable. Overall, the city offers 17,291,349 in inventory with a 15.6% vacancy rate. Rental seekers can expect to pay an average of $26.27 per square foot. Asking prices do vary considerably depending on the area of the city you’re looking for office space. In North Scottsdale, average office space rent is $19.55/sqft; in Scottsdale Airpark, it’s $29.25/sqft; in Central Scottsdale, it’s $27.04/sqft; in South Scottsdale, it’s $30.04. Most commercial real estate construction projects are in South Scottsdale.
What Our Brokers Say About Scottsdale Office Space
Scottsdale is 31 miles long and 11.4 miles wide. Its location offers access to a variety of destinations. Nearby areas include Phoenix, Maricopa County, the Tonto National Forest, Tempe, the Salt River Pima-Maricopa Indian Community, and Fountain Hills. It’s called a desert city because it’s located within Salt River Valley, the “Valley of the Sun,” which is part of the Sonoran Desert. Locals often break the city down into four separate areas: South Scottsdale, Old Town (Downtown), Central Scottsdale, and North Scottsdale.
As was aforementioned, tourism is an important moneymaker in Scottsdale. In fact, 39% of the city’s workforce earns their wages from this industry. New York City, Las Vegas, and Chicago are the only U.S. cities that have more AAA Five-Diamond hotels and resorts than Scottsdale. Scottsdale enjoys warm weather year-round, which helps account for its vacation appeal.
Another important industry in Scottsdale is aviation. The Scottsdale Airport in North Scottsdale is one of the most popular single-runway airports in the nation. Additionally, a regional center of commerce has grown in the area around the airport—Airpark; in fact, more than 2,500 individual businesses operate there. More than 50,000 people are employed in financial, retail, service, technological, design and manufacturing fields based in Airpark.
Notable businesses headquartered in Scottsdale include Cold Stone Creamery, Dial, Discount Tire, P.F. Chang’s China Bistro, GoDaddy, Axon, and APL.
Find Scottsdale Office Space for Rent | Popular Areas
Those searching for office space in the Phoenix Metro Area will likely be interested in securing real estate in one of the four areas of Scottsdale. However, they may also be interested in nearby cities like Phoenix and Mesa. Check out some details below regarding several popular options in the area to help you decide where to focus your efforts.
Airpark: Airpark, located in the Northeast market area of Scottsdale, comprises the area surrounding the Scottsdale Airport. It is one of the state’s fastest growing business communities and the second-largest employment center in the Phoenix Metropolitan Area. It houses 2,600 businesses, employs more than 55,000 workers, and offers more than 23 million square feet of office space. This popular business center currently has a 13.% vacancy rate for commercial space; rental price is very reasonable at an average of $29.25 per square foot. Those seeking Class A spaces can expect to pay about $30.76/sqft; Class B spaces go for $24.38/sqft.
Central Scottsdale: Central Scottsdale, also known as the “Shea Corridor” because it’s close to Shea Boulevard, is known for its impressive real estate market. In fact, the area includes some of the most popular places to live in the Phoenix Metropolitan Area, such as Gainey Ranch and McCormick Ranch. Office space rental prices are slightly lower in Central than in Airpark, at $27.04/sqft on average. The current inventory is almost 5 million square feet with a 10.9% vacancy rate. Central Scottsdale offers Class A, Class B, and Class C options.
South Scottsdale: South Scottsdale is the working class region of the city. A relatively new business development is Skysong, a residential, research, and business center that houses more than 50 businesses and employs more than 2,000 people. Arizona State University Foundation and the city partnered to create it. Currently, the area has nearly 4 million square feet of commercial real estate inventory with an 18.4% total inventory. Average asking rent is $30.04/sqft. Class A, Class B, and Class C office space options.
Phoenix: The nearby city and capital of Arizona is also a very popular choice for office space seekers. It has the fifth highest city population in the United States and is the anchor of the Phoenix Metropolitan area. The city houses four Fortune 500 companies: Avnet, Freeport-McMoRan, PetSmart, and Republic Services. Other notable companies in the area include Intel, U-HAUL International, Best Western, Apollo Group, and Mesa Air Group. Office space seekers will find many open options because the city has a 19.2% vacancy rate. On average, spaces rent for an average of $25.44 per square foot, but that varies depending on class. Class A spaces rent for an average of $30.88/sqft, Class B spaces for $21.11, and Class C spaces for $15.07.
Mesa: Mesa is a city in the eastern section of the Phoenix Metropolitan Area. It is located about 20 miles away from Phoenix. Mesa offers the benefits of a city but still has more of a suburban feel. The area features 509,834 square feet in office space inventory with a 13.4% vacancy rate. Rental prices are very reasonable, averaging $16.17/sqft. Though Class A spaces are not available here, Class B spaces rent for just $18.17/sqft, and business owners can find Class C spaces renting for as little as $12.43/sqft.
Transportation in Scottsdale, AZ
Scottsdale offers locals and travelers several options for getting around. Those who choose to travel by car can take State Route 101—also called Loop 101—to access Metropolitan Phoenix Freeways. The Scottsdale Municipal Airport provides service for both commercial and individual travelers. Valley Metro offers a bus service that transports riders through the Scottsdale and Phoenix Metropolitan Area.
Those who want to get some fresh air and exercise when commuting can opt to use one of the city’s new bike sharing companies. Cyclists can use a smartphone app to unlock a nearby bike and ride it to another station near their destination.
The Scottsdale Trolley runs two routes: the Downtown Trolley and the Neighborhood Trolley. Interestingly, this service is free.