NORTH FIRST COMMONS — Lease in San Jose, CA

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: San Jose, CA 95131

Description

Office | For Sublease: 62,784 - 250,056 SF Four building project. Lease Note Contiguous with Bldgs 1-3 for a total of 250,056 SF. Termination option 3/31/2026. Key Facts Property Name: NORTH FIRST COMMONS Property Type: Office Available Subtype: Office Available For: Sublease Available SF: 62,784 Amps; Volts: ; 277/480 Divisible-Contiguous: 62,784 - 250,056 Rental Rate: $1.55 NNN/mo Rent + Expenses: $2.2500 PSF Expenses: $0.7000 2545 N 1st St 3, San Jose, CA 95131 NORTH FIRST COMMONS Office | For Sublease: 62,784 - 250,056 SF Facebook LinkedIn Email Twitter Facebook LinkedIn Email Twitter Share Print View Documents View Documents Grant Zamudio Vice Chair Silicon Valley License #: 01858005 +1 650 486 2231 Call Now +1 650 486 2231 +1 408 656 1894 Call Mobile +1 408 656 1894

Market Context

This office in San Jose, CA is listed for lease. It has been on the market for 176 days. Compare it against other office listings for lease in San Jose, CA — view the full market.

As of Q1 2026, the Silicon Valley office market showed a 2.9% vacancy rate, average asking rents near $20.16/SF/yr, rents up 4.3% year over year, and cap rates around 6.2%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Office market FAQ

What is the typical cap rate for office in Silicon Valley?
About 6.2% as of Q1 2026, per multiple brokerage reports.
Is the Silicon Valley office market tightening or softening?
Vacancy is around 2.9%, with asking rents rising year over year (Q1 2026).

Estimated Market Rate

$1.04/SF/mo – $1.40/SF/mo

Mid: $1.22/SF/mo

Rate estimator only; cost-of-business estimate unavailable.

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