On average, listings lease in the $60's per square foot per year. The Pruneyard region is seeing a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Silicon Valley market, the Pruneyard submarket has higher 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 new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 750% of the office spaces 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,140 sqft. Most properties in this area are around 17 stories. Most buildings in this market were built in 1973 and are Class A.
Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Pruneyard folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.