The typical asking rate per listing is in the $40's per square foot per year. The East Murphy region is experiencing a decline in rates. In the last 3 months, the median rate fell $15 per sqft per year. That's a 24% decrease in rent.
Compared to the rest of the Silicon Valley market, the East Murphy region has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 7 listings have been made available, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 29% of the available leases 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,200 sqft. Most buildings in this area are approximately 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 area. Commute by walking is the most popular way to get to work amongst East Murphy residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.