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Menlo Park Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $100.39 2020 Avg. Asking Rent
  • 7.45% 2020 Office Vacancy Rate

Menlo Park office price per square foot in 2020 was $100.39 on average. The local office market recorded an average vacancy rate of 7.45% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Menlo Park Class A Office Space$122.18
  • Menlo Park Class B Office Space$82.88
  • California Class A Office Space$55.92
  • California Class B Office Space$35.12
  • California Class C Office Space$23.50

Menlo Park, CA Office Asking Rents by Class

2020 Office Construction in Menlo Park, CA

  • Menlo Park, CA Total SF completed in 2020 22,226
  • Menlo Park, CA Total SF under construction in 2021 865,043

During 2020, 22,226 square feet of new office space were delivered across the market. At the close of 2020, the Menlo Park office inventory included 3 buildings equal to or larger than 25,000 square feet, which comprised 22,226 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 865,043 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Menlo Park
Office building Address SF Completed
Middle Plaza - 300 El Camino Real 300 El Camino Real, 94025 93,000 2022
Middle Plaza - 200 El Camino Real 200 El Camino Real, 94025 45,179 2022
Middle Plaza - 500 El Camino Real 500 El Camino Real, 94025 34,526 2022
Facebook Campus - Building 22 301 Constitution Drive, 94025 457,000 2021
The Offices at Springline North 1300 El Camino Real, 94025 167,647 2021
The Offices at Springline South 1302 El Camino Real, 94025 99,817 2021
506-556 Santa Cruz Avenue 506 Santa Cruz Avenue, 94025 42,330 2020
Menlo Gateway - 155 Constitution Drive 155 Constitution Drive, 94025 247,526 2019
Menlo Gateway - 101 Constitution Drive 101 Constitution Drive, 94025 247,526 2019
Alma Station 1020 Alma Street, 94025 25,480 2019

Worth noting among recent office completions on the Menlo Park market is Middle Plaza - 300 El Camino Real, which is currently the largest new office development in the city, at 93,000 square feet.

Data provided by Commercial Edge

See reports for nearby markets

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  • San Jose Office Rent Price
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  • Mountain View Office Rent Price
  • Redwood City Office Rent Price

This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Menlo Park commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.

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