On average, listings lease in the $90's per square foot per year. The Heritage District submarket is going through a a rise in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Silicon Valley market, the Heritage District region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 13 listings have been made available, which means new availabilities most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 38% of the office spaces in the Heritage District 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.
Even though the median size is 12,830 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are close to 5 stories. Most buildings in this region were built in 1986 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Heritage District folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.