On average, listings lease in the $50's per square foot per year. The Newport Beach region is seeing a a rise in rates. In the last 3 months, the median rate increased $17 per sqft per year. That's a 45% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 105 listings have come on the market, so you'll want to check back regularly for new listings. About 6% 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.
The standard measurement for office space in this area is around 2,120 sqft. Most properties in this market are around 2 floors. Most buildings in this area 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 area. Commute by walking is the most popular way to get to work amongst Newport Beach occupants. Commuting close to an hour and a half a day is the norm for those who opt to reside in this part of town.