3Q 2025 Orange County Office Market: Key Data Points
Explore our full Orange County industrial market review for deeper insights into leasing trends, sale activity, and submarket performance.
- Vacancy Rate Improves: Direct vacancy declined to 11.8%, down from 12.0% in Q3 2024.
- Leasing Activity Totals 1.6M SF: Irvine Spectrum, Mission Viejo, and Costa Mesa led leasing momentum.
- Net Absorption Turns Positive: Net absorption reached 640,722 SF, reversing prior negative trends.
- Average Asking Rent Declines Slightly: Full-service asking rent averaged $2.77/SF, down 1.07% year-over-year.
- Limited New Construction: Only 399K SF of office space remains under development across the county.
- Class A Space Commands Premium: Asking rents for high-end space average $3.20/SF, supported by incentives and amenities.
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