Orange County office market report

Q1 2024

The Orange County market displayed some signs of recovery as leasing activities remained firm, reporting over 1.8 msf leased for the second straight quarter, average asking lease rates hold steady with landlords offering concessions in lieu of decreasing rents, and sublease availabilities have decreased for the first time since 2Q 2023.

Net Absorption

Net absorption fell into the red 1Q 2024, but we can expect tenant movements to improve with leasing activities displaying signs of recovery.


Direct asking rent

Asking rental rates continue to hold firm as landlords continue to offer concession packages in lieu of decreasing rents.



Sublease availabilities decreased for the first time since 2Q 2023, concluding at 3.4% at the end of the first 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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