Highest NNN Starting Retail Rents Across Phoenix Range from $30 to $60

Graph of Phoenix Retail: 2024 YTD New Direct Leases – Highest NNN Starting Rents
  • Phoenix's retail triple net (NNN) direct starting rents have reached unprecedented levels, with significant growth since 2021.
  • NNN starting rents across the Valley range from ~ $30 to $60 per square foot, reflecting substantial increases in various submarkets.
  • Leading submarkets in 2024 with some of the highest recorded starting rents include Scottsdale, East Valley, and North Phoenix.

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