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2021 Q3 Orange County Office Research Report

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Orange County Office Overview

  • Orange County office vacancy continues to rise for the sixth consecutive quarter. It recorded at 17.2% this quarter, which is 40 basis points higher than previously.
  • Over 60% of negative demand was in the Airport area, where more than 1M SF of occupancy was lost.
  • West County showed a significant change in its average asking rent, closing at $2.59, which is an increase of 10.2% since Q3 2020.
  • Availability in the Airport area has reached 25%, which is the highest in the market. Availability in this area has not been this high since Q1 2011.
  • Orange County had a few large leases this quarter. The largest of which was a 65,003-SF sublease in South County, occupied by a non-denominational Christian church, - Oceans Church.

OFFthumbOC_Q321

2021 Q3 Orange County Office Research Report

Download Report