On average, listings lease in the $70's per square foot per year. The Town Center submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the Silicon Valley market, the Town Center region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 5 listings have been posted online, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 40% of the office spaces in the Town Center 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.
Even though the median size is 3,440 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are close to 4 stories. Most buildings in this market were built in 1993 and are Class A.
This area is fairly equally mixed residential and commercial. Health care is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Town Center folk. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.