Orange County office market report
Q3 2025
Orange County’s office market strengthened in Q3, recording more than 1.7 million square feet of leasing activity as occupiers sought newer, highly amenitized environments to support return-to-office initiatives. Availability fell to 20.3%, reflecting fewer space givebacks and limited new listings, while average asking rents held firm at $35.67 per square foot. Although investment activity remains below 2021 highs amid ongoing office-to-industrial conversions, the market continues to demonstrate stability, with $251 million in transactions completed during the quarter. Looking ahead, potential Fed rate cuts in 2025 and improving lending conditions are expected to spur capital flow and reinforce the region’s gradual recovery.
Net absorption
Net absorption jumps back up to the positives for the first time in 2025.
Asking rent
Occupiers have prioritized amenity-rich offices, raising average asking lease rates to $35.67/SF.
Availabilities
Total availabilities have remained stable at 20.3% in the third quarter.
Your source for the latest Orange County office market reports
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.