Newport Center Office Space

Newport Center

Office Space Market Report

Number of Listings (last 90 days)
380
Median Rate ($/sqft/yr)
$55
Median Size (sqft)
3,140
As of: August 17, 2017

Newport Center Rates

The typical asking rate per listing is in the $50's per square foot per year. The Newport Center region is experiencing a decrease in rates. In the last 3 months, the median rate fell $12 per sqft per year. That's a 18% decline in rent.

Compared to the rest of the Metropolitan Los Angeles market, the Newport Center region has higher rates, and you'll need to pay a premium to be in this hot submarket.

Newport Center Listing Supply

In the last 90 days, 44 listings have been posted online, so you'll want to check back regularly for new listings. About 7% of the available leases in the Newport Center 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 3,140 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are approximately 7 stories. Most buildings in this market were built in 1981 and are Class A.

Newport Center Community

Arts, entertainment, and restaurants are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Newport Center occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Newport Center.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Newport Center.
Research