On average, listings lease in the $60's per square foot per year. The Town Center submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $25 per sqft per year. That's a 28% decline in rent.
Compared to the rest of the Silicon Valley market, the Town Center region has higher 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 listed, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 67% of the office spaces in the Town Center 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 posted, so finding a space for a small business might be tough.
Even though the median size is 4,030 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are around 4 floors. Most buildings in this region were built in 1993 and are Class A.
This market is fairly equally mixed residential and commercial. Health care is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Town Center occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.