The typical asking rate per listing is in the $60's per square foot per year. The Serramonte submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Silicon Valley market, the Serramonte region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 2 listings have been listed, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 50% of the available space in the Serramonte 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 6,390 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are approximately 5 floors. Most buildings in this market were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Serramonte residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.