Milpitas Commercial Real Estate And Office Space For Rent

Description:

The City of Milpitas:  It is located with San Jose to its south and Fremont to its north, at the eastern end of Highway 237 and generally between Interstate freeways 680 and 880 which run roughly north/south through the city. With Alameda County bordering directly on the north, Milpitas sits in the extreme northeast section of the South Bay, bordering the East Bay and Fremont. Milpitas is also located within the Silicon Valley. Milpitas is often called the “Crossroads of Silicon Valley” with most of its 13.63 square miles of land situated between two major freeways (I-880 and I-680), State Route 237, and a County expressway. A new light rail line opened for service in 2004 and an extension of BART including a major multi-modal station is in the planning stage. There are approximately 1,790 acres, or 2.9 square miles, designated for various industrial uses. About 271 acres are vacant and available in parcels ranging from ½ acre to 75 acres. Located at the southern tip of the San Francisco Bay, the City of Milpitas is a progressive community that is an integral part of the high tech Silicon Valley.

Companies who look in this city also look in nearby cities such as San Jose, Santa Clara, and Fremont.

Retail space in Milpitas: Retail space in Milpitas is offered for sale and for lease and there are many local real estate brokers who have property listings for a company to view. You can quickly get a quote for a sublease or direct space by using Rofo. Milpitas has no concentrated downtown "center," but instead has several small retail centers generally located near residential developments and anchored by a supermarket, An additional 350 acres are dedicated to regional and community retail centers supporting 3.5 million square feet of commercial shops. The Great Mall of the Bay Area is the largest enclosed mall in Northern California, with approximately 1.1 million square feet of leasable space for retail and entertainment operations. Several local shopping centers serve regional needs for Asian-oriented retail and services.

Office space in Milpitas: Milpitas is attracting small office users to their downtown office space. Currently the downtown area offers office listings for lease and office listings for sale. Milpitas offers high rise office space, low rise office space, lofts, mixed use space and converted warehouse office space. The corporate headquarters of Maxtor, LSI Logic, Solectron and Adaptec sit within the industrial zones of Milpitas Most people who live in Milpitas work out of the city. While most of the workers employed in Milpitas come from other cities. This results in heavy traffic commutes along key arterial roads twice each day. The two largest employers in Milpitas are Cisco Systems and Lifescan, Inc., with over 2,500 employees each. Several of these top employers have made the City of Milpitas their corporate headquarters as well. Given the City’s desirable location for high-tech industry, the daytime population of Milpitas doubles to 130,000.

Warehouse space in Milpitas: There are eight existing industrial parks and 550 manufacturing plants in Milpitas. The City's industrial developments allow businesses from a start-up to a multi-national company find their space needs on a for sale or for lease basis. Many small warehouses exist in Milpitas and can be found on Rofo.com. Highways Highway 237, 680, and 880 link Milpitas to the rest of the Bay Area. Interstates 680 and 880 lead north to Fremont and south to downtown San Jose. On the other hand, Highway 237 begins at Milpitas and goes west to Sunnyvale and Mountain View. The Santa Clara Valley Transportation Authority (VTA) runs light rail (high-speed transit) and local buses for public transportation.  This access creates a great distribution network for local industrial and manufacturing companies that are located in Milpitas. Milpitas’s central location offers warehouse space near Interstate 101. Morgan Hill has storage spaces, warehouse spaces, distribution spaces, and manufacturing spaces.

Quick Market Stats:

There's roughly 1,000,000 square feet of office space with a rough overall vacancy rate of 9%.  The average asking rates for office space is $2.00(fs).

The R&D space market is roughly 15,000,000 square feet and has an overall vacancy rate of just 18%.  The average lease rate is $1.00 per square foot per month.

The industrial space market is roughly 3,000,000 square feet and has an overall vacancy rate of just 7.5%.  The average lease rate is $0.75 per square foot per month.

The warehouse space market is roughly 5,500,000 square feet and has an overall vacancy rate of just  6%. The average lease rate is $0.50 per square foot per month.