The typical asking rate per listing is in the $20's per square foot per year. The Irvine Medical and Science Complex submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Irvine Medical and Science Complex submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 9 listings have been posted online, which means new availabilities are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 22% of the available space in the Irvine Medical and Science Complex are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,190 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 2 stories. Most buildings in this market were built in 2000 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this region. Commute by car is the most popular way to get to work amongst Irvine Medical and Science Complex residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.