SOUTHERN CALIFORNIA—Newport Center Dr. in Newport Beach and High Bluff Dr. in San Diego are huge draws for office users seeking a prestigious Southern California address, offering high-end services and amenities for a hefty price, according to JLL. The firm recently revealed the results of its Most Expensive Streets study, which shows that High Bluff Dr. ranked 13th most expensive and Newport Center Dr. ranked 15th most expensive among streets throughout the nation.
The average full-service rent on High Bluff Dr. for Q3 2017 was $54, with the average market asking rent at $32.28 per square foot. The percent premium from street average to market average was 67.3%.
For Newport Center Dr., the average full-service rent was $50.16, while the average market asking rent was $33.36 per square foot. The percent premium from street average to market average was 50.4%.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
