Menlo Park Office Market Trends

Office Rental Market

  • $91.00 2019 Avg. Asking Rent
  • 5.24 % 2019 Avg. Vacancy Rate
  • 545,628 2019 Office Completions (Sqft)
  • 892,595 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Menlo Park was $91.00 per square foot, and the office vacancy rate across the market averaged 5.24 %. During 2019, developers added 545,628 square feet of new office space to the Menlo Park market inventory. Office developments estimated for delivery during 2020 total 892,595 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Menlo Park Class A Office Buildings$121.87
  • Menlo Park Class B Office Buildings$78.90
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Menlo Park, CA Office Asking Rents by Class

OFFICE CONSTRUCTION IN Menlo Park, CA

  • Menlo Park, CA Total Sqft completed in 2019 545,628
  • Menlo Park, CA Total Sqft under construction in 2020 892,595
10 Largest Office Buildings in Menlo Park
Building name Address Total Sqft Year built
SRI International Headquarters 333 Ravenswood Avenue, 94025 1,380,332 1958
Menlo Park Campus - Facebook 1 Hacker Way, 94025 1,022,088 1997
MPK 21 1 Facebook Way, 94025 512,900 2018
Facebook Campus - Building 22 1 Facebook Way, 94025 464,712 2021
Facebook Campus - Building 20 1 Facebook Way, 94025 433,555 2015
Menlo Gateway - 155 Constitution Drive 155 Constitution Drive, 94025 247,526 2019
Menlo Gateway - 101 Constitution Drive 101 Constitution Drive, 94025 247,526 2019
Menlo Business Park - Building 3 1315 O'Brien Drive, 94025 217,770 2017
1300 El Camino Real 1300 El Camino Real, 94025 211,324 2021
Menlo Gateway - 100 Independence Drive 100 Independence Drive, 94025 206,869 2017
Largest Office Properties Recently Completed in Menlo Park
Office building Address Sqft Completed
Facebook Campus - Building 22 1 Facebook Way, 94025 464,712 2021
Springline - Building 1 1300 El Camino Real, 94025 115,708 2021
Springline - Building 2 1300 El Camino Real, 94025 99,817 2021
Middle Plaza - 300 El Camino Real 300 El Camino Real, 94025 88,600 2021
Middle Plaza - 200 El Camino Real 200 El Camino Real, 94025 45,179 2021
Middle Plaza - 500 El Camino Real 500 El Camino Real, 94025 34,526 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
Data provided by Commercial Edge

Office Spaces for Rent in California

See trends for nearby markets

The Menlo Park office market contains an inventory of 9,050,762 square feet of office space, in 167 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.