Menlo Park was the most expensive office submarket by asking rents in the fourth quarter, with an average of $118.73 per square foot, according to a new report from CommercialSearch.

West Coast cities dominated the rankings, with 28 cities placing among the top 50 submarkets CommercialSearch surveyed. Of that number, 27 were in California and one was in Seattle's Bellevue neighborhood.

"Asking office rents averages among these Golden State submarkets ranged from $46.55 per square foot for office space in University City, San Diego to $118.73 per square foot in Menlo Park," the CommercialSearch report notes. "Of these, submarkets in San Francisco accounted for a small majority — representing nine of California's 27 entries — while the Bay Area and Los Angeles each contributed seven. San Diego submarkets accounted for the remaining four California office submarkets to make the cut."