Most listings are in the $80's per square foot per year. The Downtown Menlo Park region is going through a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Silicon Valley market, the Downtown Menlo Park submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 7 listings have come on the market, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the office spaces in the Downtown Menlo Park are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 500 sqft. Most buildings in this market are close to 2 floors. Most buildings in this region were built in 1965 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the folk of Downtown Menlo Park work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.