The Orange County retail market in 1Q 2026 experienced a slight increase in vacancy, steady asking rents, and notably higher levels of space under construction, while both construction deliveries and net absorption declined sharply. Explore our full Orange County retail market report for deeper insights into leasing activity, investment performance, and development trends across the region.
1Q 2026 Orange County Retail Market: Key Data Points
- Vacancy Inches Up: Retail vacancy rose to 4.0%, an increase of 50 basis points year-over-year.
- Asking Rents Hold Steady: Average asking rent remained stable at $2.68 per SF per month, reflecting a mild 0.31% annual increase.
- Construction Activity Expands: Under-construction space increased to 354,026 SF, a 53.26% rise year-over-year.
- Construction Deliveries Contract: Deliveries totaled 7,449 SF, down 73.65% from the previous year.
- Net Absorption Turns Deeply Negative: Net absorption reached -575,753 SF, indicating significant tenant move-outs.
- Sales Pricing Strengthens: Average sales price climbed to $566 per SF, marking a 12.09% year-over-year increase.
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