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2022 Q3 Orange County Office Research Report

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2022 Q3 Orange County Office Research Report

Key Takeaways: 

  • Construction activity remains active with 604K SF under development between the ongoing Spectrum Terrace and Innovation Office Park projects.
  • Vacancy rate increased 80 basis points from last quarter to 17.1%.
  • Net absorption took a plunge this quarter, with over 212K SF returned to the market.
  • Average asking lease rates fell this quarter to $2.68 PSF overall and $2.98 PSF for Class A space. These were differences of $0.04 and $0.05 PSF, respectively.
  • Overall availability rate increased by 190 basis points, closing the quarter at 23.8%.

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2022 Q3 Orange County Office Research Report

Download Report