On average, listings lease in the $70's per square foot per year. The Heritage District region is seeing a decrease in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 22% decrease in rent.
Compared to the rest of the Silicon Valley market, the Heritage District region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 11 listings have been made available, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 36% of the office spaces in the Heritage District are subleases, so you might be able to find a shorter term or below market rent. 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 2,100 sqft. Most buildings in this region are around 5 stories. Most buildings in this market were built in 1986 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Heritage District occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.