Newport Beach Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $40.92 2024 Avg. Asking Rent
  • 3.05% Y-o-Y Avg. Asking Rent Change
  • 13.48% 2024 Office Vacancy Rate

Newport Beach office price per square foot in 2024 was $40.92 on average. This marked a +3.05% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.48% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Newport Beach, CA Office Asking Rents by Class

2024 Office Vacancy Rates in Newport Beach

Submarket Asking Rents Vacancy Rates
Costa Mesa $44.95 15.18%
Newport Center $37.93 6.19%
John Wayne Airport $29.17 18.46%
Data provided by Yardi Research
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 13.48% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Newport Beach was 6.19% in the Newport Center submarket, while the highest office vacancy in the market was 18.46%, recorded in John Wayne Airport.

Office Spaces for Rent in California

Coworking Spaces in California

2024 Office Construction in Newport Beach, CA

Largest Office Properties Recently Completed in Newport Beach
Office building Address SF Completed
20 Corporate Plaza Dr 20 Corporate Plaza Dr, 92660 8,685 2015
520 Newport Center Drive 520 Newport Center Drive, 92660 326,000 2014
20162 SW Birch Street 20162 SW Birch Street, 92660 31,186 2004
The Bluffs Shopping Center 1300 Bison Avenue, 92660 50,000 2003
20377 SW Acacia Street 20377 SW Acacia Street, 92660 25,918 2003
Bayview Business Park 20401 SW Birch Street, 92660 101,569 2001
Newport Plaza 895 Dove St., 92660 108,112 2000
Corporate Plaza West - 1200 Newport Center Drive 1200 Newport Center Drive, 92660 51,214 1999
Corporate Plaza East - 22 & 23 Corporate Plaza Drive 22 Corporate Plaza Drive, 92660 131,794 1998
Corporate Plaza East - 24 & 26 Corporate Plaza Drive 24 Corporate Plaza Drive, 92660 80,201 1998

Worth noting among recent office completions on the Newport Beach market is 20 Corporate Plaza Dr, which is currently the largest new office development in the city, at 8,685 square feet.

Data provided by Yardi Research

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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, 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 Yardi Research Data can guarantee that the information provided is complete.