On average, listings lease in the $60's per square foot per year. The Serramonte region is seeing a an increase in rates. In the last 3 months, the median rate rose $16 per sqft per year. That's a 35% increase in rent.
Compared to the rest of the Silicon Valley market, the Serramonte submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 8 listings have been listed, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. 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 700 sqft. Most buildings in this market are approximately 5 floors. Most buildings in this area were built in 1977 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 region. Commute by walking is the most popular way to get to work amongst Serramonte occupants. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.