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.
| 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.
See reports for nearby markets
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.