The typical asking rate per listing is in the $90's per square foot per year. The Heritage District submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $20 per sqft per year. That's a 28% rise in rent.
Compared to the rest of the Silicon Valley market, the Heritage District region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 13 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 23% of the office spaces in the Heritage District are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,060 sqft. Most properties in this region are around 5 stories. Most buildings in this market were built in 1986 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Heritage District residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.