Newport Beach Office Rent Price & Sales Report

2020 Office Space Rent & Sales

  • $38.55 2020 Avg. Asking Rent
  • -2.26% Y-o-Y Avg. Asking Rent Change
  • 11.89% 2020 Office Vacancy Rate

Newport Beach office price per square foot in 2020 was $38.55 on average. This marked a -2.26% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 11.89% across all asset classes combined.

Average Rent by Office Class

2020 Average Office Rent per Square Foot

  • Newport Beach Class A Office Space$38.43
  • Newport Beach Class B Office Space$38.69
  • California Class A Office Space$55.92
  • California Class B Office Space$35.12
  • California Class C Office Space$23.50

Newport Beach, CA Office Asking Rents by Class

2020 Office Vacancy Rates in Newport Beach

Submarket Asking Rents Vacancy Rates
Newport Center $46.08 4.95%
John Wayne Airport $36.74 17.29%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Newport Beach market was 11.89% in 2020. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Newport Beach was 4.95% in the Newport Center submarket, while the highest office vacancy in the market was 17.29%, recorded in John Wayne Airport.

Office Spaces for Rent in California

2020 Office Construction in Newport Beach, CA

  • Newport Beach, CA Total SF completed in 2020 29,991

During 2020, 29,991 square feet of new office space were delivered across the market. At the close of 2020, the Newport Beach office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 29,991 square feet of office space.

Largest Office Properties Recently Completed in Newport Beach
Office building Address SF Completed
Newport Harbor Medical Plaza 330 Old Newport Blvd, 92663 29,991 2020
Newport Heights Medical Campus 20350 SW Birch Street, 92660 64,000 2017
650 Newport Center Drive 650 Newport Center Drive, 92660 380,000 2014
520 Newport Center Drive 520 Newport Center Drive, 92660 326,000 2014
Google Center - 19510 Jamboree 19510 Jamboree Road, 92612 108,696 2014
Google Center - 19500 Jamboree 19500 Jamboree Road, 92612 210,280 2006
680 Newport Center Drive 680 Newport Center Drive, 92660 55,065 2005
Acacia Atrium 20280 SW Acacia Street, 92660 30,531 2003
Birch Bayview Plaza - 20377 SW Acacia Street 20377 SW Acacia Street, 92660 25,918 2003
Bayview Business Park 20401 SW Birch Street, 92660 101,569 2001

Worth noting among recent office completions on the Newport Beach market is Newport Harbor Medical Plaza, which is currently the largest new office development in the city, at 29,991 square feet.

Data provided by Commercial Edge

See reports for nearby markets

This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Newport Beach commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.