On average, listings lease in the $40's per square foot per year. The East Murphy region is seeing a decline in rates. In the last 3 months, the median rate fell $21 per sqft per year. That's a 34% decline in rent.
Compared to the rest of the Silicon Valley market, the East Murphy region has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 6 listings have been posted online, which means listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 33% of the listings in the East Murphy are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,630 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 2 floors. 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 area. 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.