On average, listings lease in the $20's per square foot per year. The Santa Cruz submarket is seeing a decline in rates. In the last 3 months, the median rate fell $6 per sqft per year. That's a 22% decline in rent.
In the last 90 days, 38 listings have come on the market, which means spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the listings in the Santa Cruz are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,400 sqft. Most buildings in this area are around 2 floors. Most buildings in this area were built in 1967 and are Class B.