Top Five Priciest Office Locations in America

Posted on 16 September, 2012 by MOVEHUT

For some firms, location is the key to operating their business successfully. Companies want to be located in busy, popular areas – but these often come at a cost. But do you know where the most expensive offices in America actually are?

1. Sand Hill Road in Menlo Park, California

This road is most famous for housing venture capital companies, which in turn have pushed up the rental value. On average it costs $113.64 per sq. ft., with the most expensive rents coming in at $198.00 a sq. ft.

Firms that occupy this road include: Benchmark Capital, Charles River Ventures, Lightspeed Venture Partners and Versant Ventures.

2. Fifth Avenue in Midtown Manhattan, New York City

This avenue in NYC is home to many offices which run hedge funds, but also luxury boutiques and famous department stores occupy the area. Commercial properties include: Louis Vuitton, Prada, Tiffany & Co., United Colors of Benetton and Saks, just to name a few.

Rents average around $97.14 per sq. ft. with the most expensive space costing £141.00 per sq. ft.

3. Greenwich Avenue in Greenwich, Connecticut

Greenwich Avenue is third on the list with the average rent costing $89.86 per sq. ft. and the most expensive office costing around $98.00.  Like Fifth Avenue, offices running hedge funds mainly occupy this area.

4. University Avenue in Silicon Valley, California

This is the home of Facebook, but also many start-up companies like to house there offices here. Average rents cost $83.16, whilst the costliest only charge slightly more at $89.40 per sq. ft.

5. Pennsylvania Avenue, Washington DC

Finally, the fifth most expensive place to rent an office is Pennsylvania Avenue, famous for being the street that joins the White House with the Capitol building. Law firms have become favourable for setting up offices in this area. The average rent costs $80.25, whilst the dearest is $83.00 per sq. ft.

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