On average, listings lease in the $50's per square foot per year. The Newport Beach submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 856 listings have been made available, so you'll want to check back regularly for new listings. About 9% of the listings in the Newport Beach are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,610 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 2 stories. Most buildings in this market were built in 1979 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Newport Beach occupants. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Newport Beach.
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