On average, listings lease in the $60's per square foot per year. The East Murphy region is going through a a rise in rates. In the last 3 months, the median rate went up $16 per sqft per year. That's a 34% rise in rent.
Compared to the rest of the Silicon Valley market, the East Murphy submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 4 listings have been posted online, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 25% of the office spaces in the East Murphy 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 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 1,870 sqft. Most buildings in this region are around 2 floors. Most buildings in this market were built in 1981 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst East Murphy occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.