13 offices: Palo Alto, CA

Located right in the middle of the tech haven, the city is where the breakthrough start-ups have been invented and boosted to achieve global growth. Facebook, PayPal, Apple, and other tech forerunners are headquartered here. Their CEOs are residing here as well. A booming tech, scientific, and economic activities in the region have skied-up the fees for Palo Alto’s office spaces and created a deficit that will not be off in the upcoming years.

The vacancy rates for Palo Alto offices for rent are among the lowest in the country. On average, they equal 5% or less. No surprise, a neighbor to the world’s famous Stanford University, it lures the talents from all over the world, and few of them graduate without having started their own venture. All of these ideas need a space to grow and develop, creating a high demand for Palo Alto’s offices for rent. The trend applies to the industrial property, as well, since biotech and life sciences companies camp out their activities here, by knocking down old industrial buildings and transforming them into high-end premises. If to range by type, the mixed-use Palo Alto’s office space for rent is in great demand. The old-fashioned, single-use offices placed in areas are sought after by the solopreneurs and early starters. Traditionally, CBD is preferred over the distant suburban small office space for rent in Palo Alto. Urbanists call it a model of a small smart city that is innovating today and projects for the future. Indeed, with the experimental and never-settling minds, the residents are boiling over the business solutions while creating the sub-products to support the city’s infrastructure or improve the governing. Much of the city’s prosperity is also driven by the smartest students who are enrolled at Stanford and who supply the area with outstanding intellectual potential. The downside of extreme growth is the segregation of the area. Due to the sky-up rental costs for both Palo Alto’s office spaces for lease and residential property, residents have to move out, freeing their spaces for the white Americans with the more high and steady income. Local authorities are launching the support and start-up acceleration programs to empower the locals; yet, the shift seems to be irreversible. If the ethnically homogenous community is a price to create the ideas that challenge the business world globally, then it pays off well.