The typical asking rate per listing is in the $50's per square foot per year. The Newport Beach region is seeing a a boost in rates. In the last 3 months, the median rate increased $51 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Newport Beach region has higher rates, and you'll need to make a great offer 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 63% of the available leases in the Newport Beach 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.
The standard measurement for office space in this area is around 2,300 sqft. Most properties in this region are close to 2 floors. Most buildings in this market 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 region. Commute by walking is the most popular way to get to work amongst Newport Beach residents. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.