On average, listings lease in the $60's per square foot per year. The Redwood Shores submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 5% rise in rent.
Compared to the rest of the Silicon Valley market, the Redwood Shores submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 16 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 25% of the office spaces in the Redwood Shores are subleases, so you might be able to snag a great spot on a short term. 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 6,200 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are close to 4 stories. Most buildings in this region were built in 1993 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Redwood Shores occupants. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.