The typical asking rate per listing is in the $90's per square foot per year. The University South submarket is going through a decrease in rates. In the last 3 months, the median rate fell $32 per sqft per year. That's a 26% decrease in rent.
Compared to the rest of the Silicon Valley market, the University South submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 9 listings have been listed, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 56% of the available leases in the University South 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 posted, so finding a space for a small business might be tough.
Even though the median size is 2,790 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 2 floors. Most buildings in this area were built in 1962 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this region. Most of the residents of University South work from home. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.