On average, listings lease in the $20's per square foot per year. The Irvine Medical and Science Complex submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 12% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Irvine Medical and Science Complex submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 14 listings have been listed, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 21% of the office spaces in the Irvine Medical and Science Complex 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.
Even though the median size is 4,190 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 2 stories. Most buildings in this region were built in 2000 and are Class B.
Arts, entertainment, and restaurants are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Irvine Medical and Science Complex folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.