I'd look at downtown Sunnyvale as well. Nokia moved in a while ago, and Apple will be moving in later this year. Murphy street has a little bit of life, although not as much as University in PA or Castro in MV. But the rents are lower than PA/MV and Sunnyvale is a Caltrain bullet stop. Lots of startups in Sunnyvale too, although many of them are over in the Plug and Play Techcenter place which is far from everything except the skate park.