Menlo Park Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Menlo Park is $116.69 per square foot, 14.04% higher compared to the previous year.
  • The market’s vacancy rate stands at 25.08%, higher than the state average of California, which is 18.44%.

2025 Office Space Rent & Sales

  • $116.69 2025 Avg. Asking Rent
  • 14.04% Y-o-Y Avg. Asking Rent Change
  • 25.08% 2025 Office Vacancy Rate

What is the average asking rent price for office space in Menlo Park?

Average asking rents for office space here stand at $116.69 per square foot. The local office market recorded an average vacancy rate of 25.08% in 2025, unchanged from 25.08% in 2024.

Menlo Park, CA Office Asking Rents by Class

What is the average office rent per square foot by property class in Menlo Park?

  • Avg. Asking Rent Class A & A+$170.09
  • Avg. Asking Rent Class B$86.47

What is the average office rent per square foot by property class in CA?

  • Avg. Asking Rent Class A & A+$58.81
  • Avg. Asking Rent Class B$37.82
  • Avg. Asking Rent Class C$22.26

For comparison, the average rent for Class A and A+ office space in California was $58.81 per square foot. The state-wide average for Class B space was $37.82 per square foot, and Class C office spaces averaged $22.26 per square foot.

Menlo Park, CA Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Menlo Park was Menlo Park at 24.88%. Meanwhile, the highest office vacancy rate in the market was 34.93%, recorded in Redwood City.
Submarket Asking Rents Vacancy Rates
Menlo Park $116.69 24.88%
Redwood City $98.45 34.93%
Data provided by Yardi Research

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2025 Office Construction in Menlo Park, CA

  • Menlo Park, CA Total SF completed in 2025 274,000

How much office space was built in Menlo Park in 2025?

274,000 square feet of new office space was delivered across the market in the previous year. New construction included 1 properties, with an average new property size of 274,000 square feet.

What are the largest recent office completions in Menlo Park?

The largest recent office completion here is The Offices at Springline North at 167,647 square feet, completed in 2021. The next largest completions are Commonwealth Corporate Center II and Rosewood Sand Hill Office Complex.

Office building Address SF Completed
Middle Plaza - 300 El Camino Real 300 El Camino Real, 94025 93,000 2023
Middle Plaza 200 El Camino Real, 33,907 2022
The Offices at Springline North 1300 El Camino Real, 94025 167,647 2021
506-556 Santa Cruz Avenue 506 Santa Cruz Avenue, 94025 42,330 2020
1285 El Camino Real 1285 El Camino Real, 94025 36,881 2020
3295 El Camino Real 3295 El Camino Real, 94027 9,289 2020
Commonwealth Corporate Center II 164 Jefferson Drive, 94025 129,960 2016
4085 Campbell Avenue 4085 Campbell Avenue, 94025 58,963 2014
Rosewood Sand Hill Office Complex 2885 Sand Hill Road, 94025 100,000 2008
Deerfield One 4040 Campbell Avenue, 94025 41,482 2008
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

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 Yardi Research Data can guarantee that the information provided is complete.