On average, listings lease in the $50's per square foot per year. The Cupertino region is seeing a decline in rates. In the last 3 months, the median rate fell $16 per sqft per year. That's a 24% decline in rent.
Compared to the rest of the Silicon Valley market, the Cupertino region has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 3 listings have been made available, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 590 sqft. Most buildings in this region are approximately 2 stories. Most buildings in this market were built in 1984 and are Class B.