On average, listings lease in the $0's per square foot per year. The Downtown Menlo Park region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $99 per sqft per year. That's a 100% decline in rent.
In the last 90 days, 5 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 20% of the available leases in the Downtown Menlo Park 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.
The standard measurement for office space in this area is around 500 sqft. Most buildings in this region are around 3 floors. Most buildings in this market were built in 1970 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the folk of Downtown Menlo Park work from home. Commuting around an hour a day is the norm for those who opt to reside in this part of town.