Tempe / Town Lake's tenant base is anchored by tech (state farm, carvana), university spinouts, financial services.

  • Tier: trophy.
  • Tenant character: Mid-rise Class A frontier on the lake.
  • Average rent: $44/sqft/yr.

Tempe / Town Lake, Phoenix tenant profile

Tempe / Town Lake's tenant base is anchored by tech (state farm, carvana), university spinouts, financial services.

TL;DR

  • Tier: trophy.
  • Tenant character: Mid-rise Class A frontier on the lake.
  • Average rent: $44/sqft/yr.

Who clusters here

Tech (State Farm, Carvana), university spinouts, financial services.

What that means for newcomers

Newcomers to Tempe / Town Lake should expect peer-tenant scrutiny: covenant strength, brand fit, and signage standards are watched closely. Lease-up product underwrites by anchor tenant; secondary tenants typically benefit from anchor halo.

Key facts

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

Frequently asked questions

What kind of tenants lease in Tempe / Town Lake?
Tech (State Farm, Carvana), university spinouts, financial services.

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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