Orange County Poised for a Comeback
The Orange County industrial market closed out the first quarter with 170,721 SF of positive net absorption. Despite total gross activity topping 3.7 MSF, the vacancy rate remains unchanged at 2.6%. Orange County’s lack of supply for last mile logistics facilities has kept absorption down over the past few quarters. In the face of the challenges that the world experienced in 2020, Orange County industrial weathered the storm and is poised to see an increase in development activity with several projects coming online next quarter. With all markets in Greater Los Angles hitting record low vacancy rates and a scarse supply of highclear and dock-high loading facilities, Orange County will see a lot of competition for prime locations and functional facilities.