The typical asking rate per listing is in the $40's per square foot per year. The Serramonte submarket is going through a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Silicon Valley market, the Serramonte submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 2 listings have been made available, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the office spaces in the Serramonte 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.
Even though the median size is 6,390 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 5 floors. Most buildings in this area 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 occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.