Most listings are in the $30's per square foot per year. The Newport Beach submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 25% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 70 listings have been posted online, so you'll want to check back regularly for new listings. About 14% of the available leases in the Newport Beach are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,150 sqft. Most properties in this area are around 3 floors. Most buildings in this area were built in 1979 and are Class A.
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 residents. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.