The 17 Most Expensive Places To Rent Office Space In North America

sand hill

Photo: Wikipedia

Office space on Silicon Valley’s Sand Hill Road, where many top venture capitalists are located, costs $113.64 per square foot/year, on average.That’s more than twice the typical rental price in the neighbourhood, which currently stands at $54 per square foot, according to a new report from Jones Lang LaSalle on the most expensive office space rentals in North America.

The sky-high rental rates attached to other prestigious street addresses, from Manhattan’s Fifth Avenue to Los Angeles’ Avenue of the Stars reinforce the old realtors’ adage “location, location, location.”

#17 Wacker Drive, Chicago

Average rent on the street: $39.40

Most expensive rent on the street: $55.30

Average rent in the market: $26.81

Prices are per square foot, per year

Source: Jones Lang LaSalle

#16 El Camino Real, San Diego

Average rent on the street: $39.72

Most expensive rent on the street: $46.80

Average rent in the market: $25.80

Prices are per square foot, per year

Source: Jones Lang LaSalle

# 15 McGill College, Montreal

Average rent on the street: $41.05

Most expensive rent on the street: $53.39

Average rent in the market: $26.02

Prices are per square foot, per year

Source: Jones Lang LaSalle

# 14 California Street, San Francisco

Average rent on the street: $43.16

Most expensive rent on the street: $82.00

Average rent in the market: $40.06

Prices are per square foot, per year

Source: Jones Lang LaSalle

# 13 Third Avenue, Calgary

Average rent on the street: $47.51

Most expensive rent on the street: $52.97

Average rent in the market: $32.70

Prices are per square foot, per year

Source: Jones Lang LaSalle


#12 Newport centre Drive, Orange County

Average rent on the street: $48.00

Most expensive rent on the street: $51.48

Average rent in the market: $23.08

Prices are per square foot, per year

Source: Jones Lang LaSalle

#11 Burrard Street, Vancouver

Average rent on the street: $48.88

Most expensive rent on the street: $61.80

Average rent in the market: $32.21

Prices are per square foot, per year

Source: Jones Lang LaSalle

#10 Albert Street, Ottawa

Average rent on the street: $49.94

Most expensive rent on the street: $54.19

Average rent in the market: $30.01

Prices are per square foot, per year

Source: Jones Lang LaSalle

#9 Bay Street, Toronto

Average rent on the street: $52.09

Most expensive rent on the street: $78.19

Average rent in the market: $28.78

Prices are per square foot, per year

Source: Jones Lang LaSalle

#8 Boylston Street, Boston

Average rent on the street: $52.65

Most expensive rent on the street: $65.00

Average rent in the market: $29.23

Prices are per square foot, per year

Source: Jones Lang LaSalle


#7 Royal Palm Way, Palm Beach

Average rent on the street: $57.99

Most expensive rent on the street: $71.00

Average rent in the market: $27.49

Prices are per square foot, per year

Source: Jones Lang LaSalle

#6 Avenue of the Stars, Los Angeles

Average rent on the street: $59.00

Most expensive rent on the street: $66.00

Average rent in the market: $47.68

Source: Jones Lang LaSalle


#5 Pennsylvania Avenue, Washington DC

Average rent on the street: $80.25

Most expensive rent on the street: $83.00

Average rent in the market: $53.48

Prices are per square foot, per year

Source: Jones Lang LaSalle


#4 University Avenue, Palo Alto

Average rent on the street: $83.16

Most expensive rent on the street: $89.40

Average rent in the market: $67.44

Prices are per square foot, per year

Source: Jones Lang LaSalle


#3 Greenwich Avenue, Fairfield County-Greenwich

Average rent on the street: $89.86

Most expensive rent on the street: $98.00

Average rent in the market: $32.19

Prices are per square foot, per year

Source: Jones Lang LaSalle


#2 Fifth Avenue, Midtown Manhattan

Average rent on the street: $97.14

Most expensive rent on the street: $141.00

Average rent in the market: $53.49

Prices are per square foot, per year

Source: Jones Lang LaSalle

#1 Sand Hill Road, Menlo Park, Calif.

Average rent on the street: $113.64

Most expensive rent on the street: $198.00

Average rent in the market: $54.00

Prices are per square foot, per year

Source: Jones Lang LaSalle


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