On average, listings lease in the $50's per square foot per year. The Newport Beach submarket is going through a an increase in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 806 listings have come on the market, so you'll want to check back regularly for new listings. About 8% of the listings in the Newport Beach are subleases, so you will probably have to consider a longer term lease. 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 2,850 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are around 2 stories. Most buildings in this market were built in 1980 and are Class B.
Real time and historical data on commercial real estate listings in Newport Beach.
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