Location, industry, competition: the new real estate mantra?​ Here are the top 10 most expensive real estate markets in the US in 2015, all the way down to street level. For the third time in a row, Bay Area’s Sand Hill Road tops the list, but others might surprise you. Check out the full ranking of 40+ U.S. streets​​​​​​​​​​​ at www.us.jll.com/expensivestreets

1. America’s most expensive streets
A look at the top 10 in 2015

2. AMERICA’S MOST EXPENSIVE $TREET$
Sand Hill Road
San Francisco Peninsula
Average full service rent:
$141.60 p.s.f.
165% market premium
#1
Historically the most expensive area in Silicon Valley, and topping our list for the third
time in a row, Sand Hill Road houses the top VC firms in the greater Bay Area,
including Blackstone, Greylock and Shasta Ventures. Thanks to this concentration,
Sand Hill has been called the Wall Street of the West.

3. AMERICA’S MOST EXPENSIVE $TREET$
Hamilton Avenue
Palo Alto
Average full service rent:
$124.44 p.s.f.
199% market premium
#2
This street’s appearance and position on this year’s list is a testament to the
continued demand from tech and venture capital, which has pushed vacancy to near-
non-existent levels. Scarce development and high level of preleasing, combined with
strong preferences for transit-proximate, walkable communities, will keep rents rising.

4. AMERICA’S MOST EXPENSIVE $TREET$
Fifth Avenue
New York City
Average full service rent:
$119.27 p.s.f.
69% market premium
#3
Although New York has diversified, Fifth Avenue remains the city’s premier address
and is still home to many financial, law and private equity firms. However, micro-
markets like Bryant Park, Columbus Circle and specific properties in Midtown South
are reaching similar rental, and are luring tenants with brand-new, top-quality space.

5. AMERICA’S MOST EXPENSIVE $TREET$
Greenwich Ave
Fairfield County, CT
Average full service rent:
$90.25 p.s.f.
184% market premium
#4
Greenwich is still a traditional hub for hedge funds, although demographic
preferences for more urban locations, distance from New York and a general
slowdown in the Fairfield County office market have kept rents relatively stable since
JLL’s last ranking in 2013.

6. AMERICA’S MOST EXPENSIVE $TREET$
Mission Street
San Francisco
Average full service rent:
$89.58 p.s.f.
34% market premium
#5
Tech is clustering in new, large projects like 350 Mission, 222 2nd and 535 Mission, as
well as the Transbay redevelopment and nearby creative space, shifting this market’s
center of gravity and earning Mission Street its first spot on JLL’s Top 10 list.

7. AMERICA’S MOST EXPENSIVE $TREET$
Pennsylvania Ave
Washington, DC
Average full service rent:
$75.65 p.s.f.
99% market premium
#6
Referred to as “America’s Main Street,” Pennsylvania Avenue still commands rents
nearly double the market average. Although vacancy has risen due to move-outs and
developments in emerging areas, the pending FBI HQ redevelopment and Old Post
Office renovation will bring attractive new retail, hotel, office and amenities.

8. AMERICA’S MOST EXPENSIVE $TREET$
Boylston Street
Boston
Average full service rent:
$67.44 p.s.f.
103% market premium
#7
Boylston Street’s location at the heart of Back Bay, numerous high-profile properties
and leasing from a broad range of tenants enabled landlords on the street to raise
rents 1.3x faster than other cities’ most expensive streets since 2013. 888 Boylston’s
delivery and amenities will compete with Cambridge and the Seaport District.

9. AMERICA’S MOST EXPENSIVE $TREET$
Avenue of the
Stars
Los Angeles
Average full service rent:
$63.12 p.s.f.
79% market premium
#8
Century City is a pre-eminent hub for legal, financial and entertainment firms. Although
creative sector growth has largely taken place in Santa Monica, Hollywood, Playa Vista
and other Westside and Central clusters, rents on this street have risen by 5.0 percent due
to its status as a premium location for many of the highest-profile tenants in the market.

10. AMERICA’S MOST EXPENSIVE $TREET$
Royal Palm Way
West Palm Beach, FL
Average full service rent:
$58.07 p.s.f.
95% market premium
#9
Royal Palm Way is dubbed “Banker’s Row” due to the concentration of wealth
management and financial services firms catering to the wealthy residents of Palm
Beach Island in Florida.

11. AMERICA’S MOST EXPENSIVE $TREET$
Newport Center
Drive
Orange County, CA
Average full service rent:
$51.72 p.s.f.
81% market premium
#10
Orange County’s premier location is mirroring county-wide improvements in
performance, with vacancy near the market average of 11 percent and rent growth
beginning to show sustained improvement. Limited new development will push rents
higher over the rest of the cycle as tenants seek well-located, quality space.

12. COPYRIGHT © JONES LANG LASALLE IP, INC. 2015
Read more about America’s most
expensive streets in 2015
www.us.jll.com/expensivestreets