Mountain View Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $79.71 2024 Avg. Asking Rent
  • 37.84% 2024 Office Vacancy Rate
  • $457M2024 Total Office Sales
  • $511.59Avg. Sale Price/SF

Mountain View office price per square foot in 2024 was $79.71 on average. The local office market recorded an average vacancy rate of 37.84% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $457M. Mountain View office space commanded an average sale price per square foot of $511.59.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Mountain View Class A & A+ Office Space$85.59
  • Mountain View Class B Office Space$66.32
  • Mountain View Class C Office Space$27.00
  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Mountain View, CA Office Asking Rents by Class

Average office rent in Mountain View rested at $79.71 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Mountain View averaged $85.59 per square foot. Across all submarkets, class B office space recorded an average asking rent of $66.32 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $27.00 per square foot, on average. Comparably, statewide California average office rents by class in 2024 were: $60.31 per square foot for class A office space; $38.42 per square foot for class B office space; $26.20 per square foot for class C office space.

2024 Office Vacancy Rates in Mountain View

Submarket Asking Rents Vacancy Rates
Mountain View - West $88.32 53.43%
Mountain View - East $61.34 26.84%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Mountain View market was 37.84% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Mountain View was 26.84% in the Mountain View - East submarket, while the highest office vacancy in the market was 53.43%, recorded in Mountain View - West.

Office Spaces for Rent in California

Mountain View Office Sale Price per SF

  • $511.592024 Avg. Price per SF
  • -20.06%Y-o-Y Avg. PpSF Change
  • $457M2024 Office Sales Volume
  • 32024 Number of Transactions

Mountain View, CA Sale Price per SF Trend

  • Mountain View Avg. Sale Price per SF in 2024$511.59
  • California Avg. Sale Price per SF in 2024$249.15
Mountain View office space cost in 2024 marked a -20.06% change compared to the previous year. The sale price for office space in Mountain View averaged $511.59 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide California average office sale price during the same time period was $249.15 per square foot.

2024 Office Sales Volume

  • Mountain View, CA Total Office Sales Volume in 2024 $457M
  • Mountain View, CA Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Mountain View office market in 2024, adding up to a yearly sales volume of $457M. Notably, the largest transaction on the market saw Microsoft Silicon Valley Campus change hands for $330,000,000 on 9/4/2024.
Data provided by Commercial Edge

Coworking Spaces in California

2024 Office Construction in Mountain View, CA

  • Mountain View, CA Total SF completed in 2024 233,543

During 2024, 233,543 square feet of new office space were delivered across the market. At the close of 2024, the Mountain View office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 233,543 square feet of office space.

Largest Office Properties Recently Completed in Mountain View
Office building Address SF Completed
1300 La Avenida Street 1300 La Avenida Street, 94043 233,543 2024
Ameswell 750 Moffett Blvd, 94043 221,788 2020
599 Castro 599 Castro Street, 94041 109,107 2019
The Village at San Antonio Center II 391 San Antonio Road, 94040 239,006 2018
The Village at San Antonio Center I 401 San Antonio Road, 94040 217,754 2018
599 Castro St 599 Castro St, 94041 94,918 2017
412 W El Camino Real 412 W El Camino Real, 94040 8,426 2015
1255 Pear Avenue 1255 Pear Avenue, 94043 156,501 2014
250 Bryant St 250 Bryant St, 84,500 2014
Castro Station 150 Evelyn Ave, W., 94041 49,052 2014

Worth noting among recent office completions on the Mountain View market is 1300 La Avenida Street, which is currently the largest new office development in the city, at 233,543 square feet.

Data provided by Commercial Edge

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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Mountain View 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.