Skip to main content Skip to footer

2021 Q2 Orange County Office Research Report

Download Report
OFFheroOC_Q221

Orange County Office Overview

• Orange County office vacancy increased another 40 basis points over the quarter to 17%, a level last seen in 2012.
• Sublease availability remained unchanged from Q1 2021 at 3.7%, most of which is in Airport and South County.
• Much of the occupancy losses in Q2 2021 were in the Airport area, where the average asking rent has decreased by 4.3% year-over-year.
• Overall average asking rent is down year-over year by 5.2% with some growth in West County, where the rate has increased 7.2%.
• Year-to-date leasing reached 3.2 MSF, falling short of the activity at mid-year 2020 by 9.7%.
• The 22.9% overall availability rate contributed to the decline in asking rents but should stabilize as companies phase back into the workplace, which will help strengthen office market fundamentals in Orange County.

OFFthumbOC_Q221

2021 Q2 Orange County Office Research Report

Download Report