Most listings are in the $30's per square foot per year. The Irvine Medical and Science Complex submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $14 per sqft per year. That's a 30% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Irvine Medical and Science Complex region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have been listed, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 25% of the office spaces in the Irvine Medical and Science Complex are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,110 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this area 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 occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.