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2022 Q3 Orange County Industrial Research Report

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Orange County Vacany Hits Lowest Point on Record

The Orange County industrial market continues to show strong market fundamentals with 884,699 SF of positive net absorption and a 2.9% jump in average asking rents to $1.58 NNN. Vacancy dropped 20 basis points, closing out the quarter at 1.0%, the county’s lowest level ever. Total leasing activity reached 3.5M SF, a significant increase quarter over quarter and well above the five-year average of 3.1M SF. Construction activity remains healthy with 3.4M SF currently underway. Average asking rents are now 27% higher than they were a year ago and 82% above the mark from five years ago. Orange County has yet to feel any pressure from economic uncertainty, as the region’s vacancy and availability decreased while net absorption and rental rate
growth increased.

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2022 Q3 Orange County Industrial Research Report

Download Report