The typical asking rate per listing is in the $60's per square foot per year. The East Murphy submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $26 per sqft per year. That's a 63% increase in rent.
Compared to the rest of the Silicon Valley market, the East Murphy submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 6 listings have come on the market, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 33% of the available space in the East Murphy 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,050 sqft. Most buildings in this market are close to 2 stories. Most buildings in this region were built in 1981 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst East Murphy residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.