Compared to the rest of the Metropolitan Los Angeles market, the Newport Center submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 12 listings have been listed, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. About 67% of the listings in the Newport Center are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,500 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 7 floors. Most buildings in this area were built in 1982 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this area. Commute by walking is the most popular way to get to work amongst Newport Center folk. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.