Orange County Office Market
| Average Asking Rent (Price/SF/Mo) | $2.80 |
| Vacancy Rate (%) | 16.2% |
| Net Absorption (SF) | -273,374 |
Three major projects are underway and scheduled for completion in 2022, with The Press (449,206 square feet pre-leased to Anduril) in Costa Mesa, the third phase of Spectrum Terrace (374,722 square feet across three buildings) in the Irvine Spectrum and the second phase of Innovation Office Park (258,508 square feet across seven buildings), also in the Irvine Spectrum.
Orange County Industrial Market
| Average Asking Rent (Price/SF/Mo) | $1.42 |
| Vacancy Rate (%) | 2.2% |
| Net Absorption (SF) | 277,044 |
Orange County has gained a reputation for becoming an electric-vehicle (EV) hub in recent years due to its diverse labor pool and a growing roster of industry players.