On average, listings lease in the $80's per square foot per year. The Downtown Menlo Park region is seeing a a rise in rates. In the last 3 months, the median rate increased $87 per sqft per year. That's a Inf% increase in rent.
Compared to the rest of the Silicon Valley market, the Downtown Menlo Park region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 9 listings have been listed, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 22% of the available space in the Downtown Menlo Park are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 1,050 sqft. Most properties in this region are approximately 3 floors. Most buildings in this market were built in 1970 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the residents of Downtown Menlo Park work from home. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.