Mountain View Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $91.99 2023 Avg. Asking Rent
  • -3.24% Y-o-Y Avg. Asking Rent Change
  • 22.49% 2023 Office Vacancy Rate

Mountain View office price per square foot in 2023 was $91.99 on average. This marked a -3.24% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 22.49% across all asset classes combined.

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

Average Rent by Office Class

2023 Average Office Rent per Square Foot

  • Mountain View Class A & A+ Office Space$96.28
  • Mountain View Class B Office Space$81.87
  • California Class A & A+ Office Space$56.30
  • California Class B Office Space$37.45
  • California Class C Office Space$44.91

Mountain View, CA Office Asking Rents by Class

2023 Office Vacancy Rates in Mountain View

Submarket Asking Rents Vacancy Rates
Mountain View - West $93.02 42.33%
Mountain View - East $79.18 21.55%
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 22.49% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Mountain View was 21.55% in the Mountain View - East submarket, while the highest office vacancy in the market was 42.33%, recorded in Mountain View - West.

Office Spaces for Rent in California

Coworking Spaces in California

2023 Office Construction in Mountain View, CA

  • Mountain View, CA Total SF completed in 2023 773,600
  • Mountain View, CA Total SF under construction in 2024 231,210

During 2023, 773,600 square feet of new office space were delivered across the market. At the close of 2023, the Mountain View office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 773,600 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 231,210 square feet of office space to the market, before year-end.

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
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
605 Castro Street 605 Castro Street, 94041 28,000 2016
412 El Camino Real, W. 412 El Camino Real, W., 94040 8,426 2016
412 W El Camino Real 412 W El Camino Real, 94040 8,426 2015
250 Bryant St 250 Bryant St, 84,000 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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. 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.