Downtown Phoenix is a prime-tier Class A submarket of Phoenix with average asking rent around $32/sqft/yr.
Repositioned legacy CBD. · Tier: prime · Avg rent: $32/sqft/yr
Downtown Phoenix is the city's repositioned legacy CBD, anchored by Block 23, the CityScape cluster, and the ASU Downtown campus.
Government, professional services, healthcare HQs, university research.
15–40,000 sqft floor plates available across newer Class A stock; 9'+ slab-to-slab and modern MEP common.
Valley Metro Light Rail (Roosevelt, Van Buren).
Multi-modal transit captures the metro's principal professional catchment.
CityScape retail, Footprint Center, Roosevelt Row.
Downtown Phoenix is one of 5 Class A submarkets we cover in Phoenix, classified as prime tier with an average asking rent around $32/sqft/yr. Compared with the broader Phoenix Class A stock, Downtown Phoenix typically attracts Government, professional services, healthcare HQs, university research and competes most directly with the city's other prime submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Downtown Phoenix: Camelback Corridor, Tempe / Town Lake, Chandler / Gilbert, Scottsdale. The full Phoenix submarket atlas is at /cities/phoenix.
For an institutional Class A occupier evaluating Downtown Phoenix, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Phoenix Class A leasing and to the prime tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.