The typical asking rate per listing is in the $50's per square foot per year. The Serramonte submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $14 per sqft per year. That's a 32% rise in rent.
Compared to the rest of the Silicon Valley market, the Serramonte submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 6 listings have been made available, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 2,700 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 5 floors. Most buildings in this region 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 region. Commute by walking is the most popular way to get to work amongst Serramonte residents. Commuting around an hour a day is the norm for those who opt to reside in this part of town.