On average, listings lease in the $50's per square foot per year. The West Murphy submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 25% decline in rent.
Compared to the rest of the Silicon Valley market, the West Murphy submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 3 listings have been made available, which means new availabilities are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 100% of the listings in the West 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 available, so finding a space for a small business might be tough.
Even though the median size is 27,930 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 1 stories. Most buildings in this area were built in 1979 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst West Murphy folk. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.