Milpitas Office Market Trends

Office Rental Market

  • $32.40 2019 Avg. Asking Rent
  • 23.58 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Milpitas was $32.40 per square foot, and the office vacancy rate across the market averaged 23.58 %. During 2019, developers added 0 square feet of new office space to the Milpitas market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Milpitas Class B Office Buildings$31.54
  • CA Class A Office Buildings$51.59
  • CA Class B Office Buildings$34.34
  • CA Class C Office Buildings$22.62

Milpitas, CA Office Asking Rents by Class

OFFICE CONSTRUCTION IN Milpitas, CA

  • Milpitas, CA Total Sqft completed in 2019 0
  • Milpitas, CA Total Sqft under construction in 2020 0
10 Largest Office Buildings in Milpitas
Building name Address Total Sqft Year built
Tasman Technology Park 1371 McCarthy Blvd, 95035 608,968 1985
Milpitas Station Corporate Campus 1001 SE Milpitas Blvd, 95035 395,335 1991
Murphy Crossing 1001 Murphy Ranch Road, 95035 361,807 1994
KLA Tencor Campus - 5 Technology Drive 5 Technology Drive, 95035 252,831 1997
Cisco Site 5 - 821 Alder Drive 821 Adler Drive, 95035 224,667 2000
Cisco Site 5 - 725 Adler Drive 725 Alder Drive, 95035 224,036 2000
Cisco Site 5 - 510 McCarthy Blvd 510 McCarthy Blvd, 95035 223,995 2000
Cisco Site 5 - 771 Alder Drive 771 Adler Drive, 95035 221,580 2000
Cisco Site 5 - 560 McCarthy Blvd 560 McCarthy Blvd, 95035 221,580 2000
KLA Tencor Campus - 3 Technology Drive 3 Technology Drive, 95035 194,597 1997
Largest Office Properties Recently Completed in Milpitas
Office building Address Sqft Completed
1511 Buckeye Drive 1511 Buckeye Drive, 95035 94,955 2010
Bay Valley Professional Center 991 Montague Expwy, 95035 47,900 2002
Campus Center - 135 North McCarthy Blvd 135 North McCarthy Blvd, 95035 176,874 2001
Campus Center - 155 North McCarthy Blvd 155 North McCarthy Blvd, 95035 176,874 2001
Campus Center - 115 North McCarthy Blvd 115 North McCarthy Blvd, 95035 117,832 2001
Cisco Site 5.1 - 1020 McCarthy Blvd 1020 McCarthy Blvd, 95134 82,325 2001
Cisco Site 5.1 - 855 East Tasman Drive 855 East Tasman Drive, 95134 82,325 2001
Cisco Site 5.1 - 707 East Tasman Drive 707 East Tasman Drive, 95134 82,325 2001
Cisco Site 5.1 - 900 McCarty Blvd 900 McCarthy Blvd, 95134 82,325 2001
Cisco Site 5.1 - 870 Alder Drive 870 Alder Drive, 95134 82,325 2001
Data provided by Commercial Edge

Office Spaces for Rent in California

See trends for nearby markets

The Milpitas office market contains an inventory of 9,559,536 square feet of office space, in 128 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 Milpitas 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.