The highest rent in the U.S. belongs to venture capitalists in Silicon Valley
 

The highest rent in the U.S. belongs to venture capitalists in Silicon Valley
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Aydin Senkut started his venture capital firm Felicis Ventures in San Francisco a decade ago. Five funds and more than $430 million later, Senkut is ready to open an ****** on Sand Hill Road, alongside such Silicon Valley institutions as Kleiner Perkins Caufield & Byers and Sequoia Capital. But he’s going to have to pay up.

Located in Facebook Inc.’s hometown of Menlo Park, California, Sand Hill Road has*the most expensive ****** space in the U.S., even as the startup market moderates, according to data from commercial real estate firm*Cushman & Wakefield. At an average of $129.91 per square foot annually, it’s up about $6*from last year and exceeds the cost of renting high-end ******s in*Greenwich, Connecticut, and on New York’s Park Avenue. It is also far more than the $75.39 for comparable space in San Francisco’s south Financial District, which saw a price increase*over the last year similar to its neighbor in the Valley, said Robert Sammons, a regional director at Cushman & Wakefield. Read more...

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