On average, listings lease in the $60's per square foot per year. The East Murphy region is going through a a rise in rates. In the last 3 months, the median rate rose $16 per sqft per year. That's a 34% increase in rent.
Compared to the rest of the Silicon Valley market, the East Murphy region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 4 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 25% of the listings in the East Murphy 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 1,870 sqft. Most properties in this market are approximately 2 floors. Most buildings in this region were built in 1981 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst East Murphy occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.