On average, listings lease in the $40's per square foot per year. The Newport Beach region is going through a an increase in rates. In the last 3 months, the median rate increased $12 per sqft per year. That's a 32% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 58 listings have been posted online, so you'll want to check back regularly for new listings. About 21% of the listings 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,340 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this region 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 occupants. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.