The typical asking rate per listing is in the $90's per square foot per year. The Downtown Menlo Park region is seeing a a rise in rates. In the last 3 months, the median rate went up $16 per sqft per year. That's a 19% increase in rent.
Compared to the rest of the Silicon Valley market, the Downtown Menlo Park submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 7 listings have been made available, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 114% of the available space in the Downtown Menlo Park 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,230 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this area were built in 1965 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 area. Most of the residents 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.