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The typical asking rate per commerial real estate listing leases is in the $60's per square foot per year. The Newport Beach region is seeing a an increase in rates. In the last 3 months, the median rate for lease went up $6 per sqft per year. That's a 11% rise in rent.
Compared to the rest of the Metropolitan Los Angeles commercial real estate market, the Newport Beach submarket has greater rates for rent, and you may need to pay a premium to be in this hot region.
In the last 90 days, 806 commercial real estate listings have been made available, so you'll want to check back regularly for new listings. About 1% of the available commercial real estate leases in the Newport Beach are subleases, so you will probably have to focus your search on direct leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 750 sqft. Most properties in this area are close to 2 stories. Most buildings in this market were built close to 1979 and are Class B.
Real time and historical data on commercial real estate listings in Newport Beach.
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