Orange County Retail MarketView Insert Q3 2019
October 21, 2019
- The Orange County average asking lease rate increased by $0.07 from $2.58 per sq. ft. to $2.65 per sq. ft. in Q3 2019 while overall rental rates remained relatively stable.
- Net absorption for Q3 2019 totaled negative 53,128 sq. ft. mainly due to a Lowe’s store closure of 139,697 sq. ft. at The Commons project in Aliso Viejo.
- Vacancy rate for Orange County increased from 3.4% to 3.5%, up 10 bps from Q2 2019 and increased 20 bps from Q3 2018.