On average, listings lease in the $20's per square foot per year. The Morgan Hill submarket is seeing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the Silicon Valley market, the Morgan Hill region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 23 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,350 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 1 floors. Most buildings in this area were built in 1987 and are Class B.