The typical asking rate per listing is in the $60's per square foot per year. The Pruneyard submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Silicon Valley market, the Pruneyard region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 2 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the listings in the Pruneyard 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.
Even though the median size is 9,480 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are approximately 17 stories. Most buildings in this region were built in 1974 and are Class A.
Wholesale trade is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Pruneyard residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.