Palo Alto Commercial Real Estate And Office Space For Rent

Featured Spaces in Palo Alto

Sub-Lease

The Executive Building1032 Elwell Court, Palo Alto, 94303

1,092 sqft.

$3,986 FS

Direct Lease

Private Office/s Class A Long or Short Term Conference Room2479 E. Bayshore Rd., Palo Alto, 94303

1,000 sqft.

$5,000 FS

Direct Lease

1731 Embarcadero Road Various1731 Embarcadero Road, Palo Alto, 94303

9,394 sqft.

$25,834 FS

Description:

Palo Alto:

The City of Palo Alto: Palo Alto is located centrally in the San Francisco Bay Area. It is 35 miles south of San Francisco and 14 miles north of San Jose, Palo Alto is within Santa Clara County and borders San Mateo County with great access to the Silicon Valley. Palo Alto is home to Stanford University, which drives the need for many office and retail companies. Palo Alto is served by two major freeways, Highway 101, and Interstate 280, and is traversed by the Peninsula’s main north-south boulevard, El Camino Real. Caltrain serves to connect residents and  businesses to San Francisco and San Jose.The city is also served indirectly by State Route 84 which traverses the Dumbarton Bridge to the north. None of the highways on the Peninsula side of the bridge have been upgraded to freeway status due to opposition from residents of Palo Alto, Atherton and Menlo Park. The freeway opponents fear that upgrading Highway 84 will encourage more people to live in Alameda County (where housing is more affordable) and commute to jobs in the mid-Peninsula area, thus increasing traffic in their neighborhoods to the south of the bridge.

Companies who look in this city also look in nearby cities such as Menlo Park, Redwood City, and Mountain View.

Retail space: Retail space in Palo Alto 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. Retail can be found in several area that feature retail spaces. Some of these areas included Downtown/University Avenue, Stanford Shopping Center, El Camino Real, and Town and Country Midtown, Alma Plaza, Charleston Center, Edgewood Plaza

Office space: Palo Alto is attracting small office users to their downtown office space. Currently the downtown area offer office listings for lease and office listings for sale. Palo Alto offers high rise office space, low rise office space, lofts, mixed use space and converted warehouse office space. Palo Alto serves as a central economic focal point of the Silicon Valley, and is home to more than 6,000 businesses employing over 125,000 people.  Many innovative tech firms reside in the Stanford Research Park on Page Mill Road while Sand Hill Road, in the adjacent city of Menlo Park, is a notable haunt for venture capitalists. Some interesting companies that call Palo Alto home include Facebook, Hewlett Packard, Wilson, Sonsini, Goodrich, & Rosati, and Photo Bucket. Palo Alto has great access of Highway 101 and the access to the educated workforce exiting Stanford University make the city a very desirable home for businesses.

Warehouse space: 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 Palo Alto and can be found on Rofo.com. This access creates a great distribution network for local industrial and manufacturing companies that are located in Palo Alto. Palo Alto’s central location offers warehouse space near Interstate 101. Palo Alto has storage spaces, warehouse spaces, distribution spaces, and manufacturing spaces.

Quick Market Stats:

There's roughly 8,500,000 square feet of office space with a rough overall vacancy rate of 6%.  The average asking rates for Class A office space is $5.75(fs) and Class B office space is $4.25(fs) per square foot per month.

The R&D space market is roughly  9,000,000 square feet and has an overall vacancy rate of just  9%.  The average lease rate is $2.50 per square foot per month.

The industrial space market is roughly 400,000 square feet and has an overall vacancy rate of just  9%.  The average lease rate is $0.75 per square foot per month.

The warehouse space market is roughly 2,000,000 square feet and has an overall vacancy rate of just  2%.  The average lease rate is $2.25 per square foot per month.