Figures

Orange County Industrial Figures Q3 2026

Rent growth and positive absorption point to market stabilization in Orange County

October 9, 2026 5 Minute Read

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  • Absorption turned positive. Net absorption was 280,000 sq. ft., up from negative 702,000 sq. ft. in Q2. The Airport Area was the only submarket in positive territory, at 710,000 sq. ft., largely because Anduril leased two new buildings.

 

  • Vacancy held at 5.5% while availability rose. Availability increased 20 basis points to 7.4%, its highest in a growing trend since Q4 2022. South Orange County had the highest vacancy at 8.7%, and the Airport Area had the lowest at 3.2%.

 

  • Leasing activity hit its highest volume since Q4 2023. Tenants signed 4.1 million sq. ft. of new leases and renewals, up 61.0% quarter-over-quarter and 73.8% year-over-year. Aerospace and Defense led, and 11 deals exceeded 100,000 sq. ft.

 

  • Construction is slowing. Space under construction fell to 576,000 sq. ft. from 676,000 sq. ft. in Q2 and 1.4 million sq. ft. in Q3 2025, as higher costs and rising availability weighed on developers.