Tempe / Town Lake is a trophy-tier Phoenix submarket with average asking rent around $44/sqft/yr.

  • Average asking rent: $44/sqft/yr.
  • Tier: trophy.
  • Citywide Class A rent context: $34/sqft/yr ($34 USD).
  • Citywide vacancy: 23.4% — submarket-level availability is typically tighter at trophy tier.

Tempe / Town Lake, Phoenix office rents and availability

Tempe / Town Lake is a trophy-tier Phoenix submarket with average asking rent around $44/sqft/yr.

TL;DR

  • Average asking rent: $44/sqft/yr.
  • Tier: trophy.
  • Citywide Class A rent context: $34/sqft/yr ($34 USD).
  • Citywide vacancy: 23.4% — submarket-level availability is typically tighter at trophy tier.

Where rent sits

Tempe / Town Lake averages around $44/sqft/yr for Class A, against a citywide Class A index of 34. As a trophy submarket, rent runs above the city average and availability is structurally tight.

Availability dynamics

Mid-rise Class A frontier on the lake. Tech (State Farm, Carvana), university spinouts, financial services.

Key facts

cityPhoenix
submarketTempe / Town Lake
tiertrophy
averageRentLocal$44/sqft/yr
cityClassARentUsd$34/sqft/yr
cityVacancyPct23.4%

Frequently asked questions

What is the average Class A rent in Tempe / Town Lake, Phoenix?
Around $44/sqft/yr. The citywide Class A index sits at $34/sqft/yr.

Related

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

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