Most listings are in the $90's per square foot per year. The Downtown Menlo Park submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Silicon Valley market, the Downtown Menlo Park region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 7 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 14% of the available space in the Downtown Menlo Park 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.
The standard measurement for office space in this area is around 1,020 sqft. Most buildings in this region are around 3 stories. Most buildings in this market were built in 1969 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 market. Most of the folk of Downtown Menlo Park work from home. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.