Central Orange County Office Figures Q3 2024

Submarket Highlights

• Leasing activity within the Central Orange County submarket remained strong and accounted for the top two deals in Orange County. This also brought YTD net absorption to near-parity within the submarket.
• Climatec, which delivers energy-efficient solutions to office buildings, leased 24,708 sq. ft. in Anaheim, and APN Software Services, a fast-growing tech company with a focus on inventory management, leased 24,390 sq. ft.
• Asking rates for the submarket fell $0.03 to $2.58 FSG per sq. ft. per month quarter-over-quarter. On a year-over-year basis, the decline was $0.05 FSG per sq. ft. from $2.63 FSG per sq. ft. in Q3 2023.
• The total vacancy remained nearly flat, shifting just 10 bps to 18.4% quarter-over-quarter. The 2.87 million sq. ft. of vacant space in the submarket remained at 18.7% of overall vacancy recorded within the county.
• The largest downsize was recorded by Collectors Holdings at 1610 E Saint Andrews Place in Santa Ana, placing 48,208 sq. ft. of their 101,362 sq. ft. space on market.