Most listings are in the $60's per square foot per year. The Serramonte submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Silicon Valley market, the Serramonte region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 2 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the available space in the Serramonte 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 6,390 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 5 floors. Most buildings in this market were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Serramonte occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.