Orange County office market report

Q4 2023

New developments have attracted incoming tenants and market vacancy has decreased quarter-over-quarter for the first time since 2022. Vacancy Rates declined 40 basis points relative to last quarter 18.3% vs 18.7%.

187k sf

Net Absorption

Net Absorption was on the positive side, 187,000 SF absorbed, for the first time since Q2 of 2022.

$34.13

Direct asking rent

Asking rents remain stable as landlords continue to offer generous concessions packages in lieu of decreasing rents.

3.8%

Availabilities

Sublet availabilities have decreased, falling 30 basis points from the prior quarter.

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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.

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