Orange County office market report
Q4 2024
The Orange County office market is steadily recovering, with market-wide availability stabilizing and robust leasing activity totaling 1.6 million square feet in Q4 2024. Average asking lease rates have risen to $35.05/SF, supported by tenant preferences for new, amenity-rich buildings. This trend aligns with evolving in-office work policies, driving demand for modern spaces. On the investment front, the market is also regaining momentum as recent continued Fed rate cuts has attracted investors back into the sector.
Net absorption
Net absorption continued to increase in Q4 2024, marking the third consecutive quarter of positive growth.
Asking rent
Occupiers have prioritized amenity-rich offices to implement new in-office work policies, pushing average asking lease rates to $35.05/SF.
Availabilities
Total availabilities declined for the third consecutive quarter, dropping to 21.8% in Q4 2024.
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.
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