Orange County office market report

Q2 2024

The Orange County office market is showing signs of improvement. Market-wide availabilities are stabilizing, leasing demand has remained firm with 1.5 MSF leased in Q2 2024, and average asking lease rates remain steady at $34.89/SF. Tenants continue to reassess their office utilization as they deploy their new in-office work polices and have favored highly amenitized office buildings in order to attract employees back to the office

0.06%

Net absorption

Net absorption rebounded from the prior quarter as leasing activities have displayed signs of recovery and tenants begin to implement their in-office work policies

$34.89

Asking rent

Average asking rental rates remained firm in the second quarter at $34.89. Landlords continue to offer generous concession packages in lieu of decreasing rents

23.0%

Availabilities

Total availabilities have stabilized, concluding the second quarter at 23.0%.

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Get in-depth office market reports and insights from commercial real estate experts in the Greater Orange County area. Avison Young advisors look at Orange County's commercial real estate activities and the latest area statistics to provide you expert market research on Orange County's office properties.

Explore different topics like the latest office market pricing trends and analysis of Orange County's current office real estate market conditions. Gain a better understanding of the area’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Orange County's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in the area.