Palo Alto

Office Lease Market Report

Average Rate ($/sqft/yr)
$
High: $ | Low: $
Average Size (sqft)
13,620
High: 38,832 | Low: 2,290

Last Updated July 17, 2014

Palo Alto Office Space

As the focal point of Silicon Valley, Palo Alto is a coveted area to rent office space for businesses in the tech industry. There is plenty of spaces available, and they tend to be located in clusters in different parts of the city. One such cluster is in downtown Palo Alto, near Stanford University. This area features office spaces of all sizes, but many of them trend towards small or medium-sized spaces.

Another cluster of offices, mostly medium-sized, come a little further south and west, along El Camino Real. Then, to the north, is a long, somewhat less dense corridor of available spaces that line Bayshore Road and the adjoining streets. These spaces are closer to the bay and a little further from downtown, and they range greatly in size.

Palo Alto at a Glance

Palo Alto is one of the most upscale areas of California and the whole nation. Home to Stanford University, it yields premium prices in the housing market due to its exceptional school system. It is a prized community to be a part of, and any business wanting to attract an educated, skilled workforce would do well to consider this area.

For entertainment, the city offers a variety of shopping centers, libraries, and museums. It is a beautiful community with areas of urban forest that are protected by the city code. For those that are able to walk to work, it is a pleasant and safe place to do so. Other means of transportation include multiple bus systems, the Caltrain rail, and plenty of free public parking for drivers.

Where to Rent in Palo Alto

As home to Silicon Valley, office space comes at a premium in Palo Alto. This is not a community for a thrifty startup to set up its first location. Downtown office prices are more expensive than even the most expensive San Francisco neighborhoods. For research organizations and businesses looking to be located close to the university, this may be worth the price.

For businesses that do not need to be located downtown, however, the offices off of El Camino Real and Bayshore Road offer more affordable prices, particularly as they approach Redwood City. In all, the whole community of Palo Alto is a highly-respected place to base your business, and it’s the perfect place for tech companies that are looking to benefit from the connections that come with the Silicon Valley.