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Orange County Office Market Report (Q1 2021)

Orange County Office Market Report (Q1 2021) 28 Apr 2021

Orange County office fundamentals off to slow start.

During the first quarter, OC’s unemployment rate dropped to 6.8%, per the latest data from the Bureau of Labor Statistics for the month of February. A marked improvement from last year’s decade high of 14.4% and lower than 7.3% from this past January. However, the impact of the pandemic continues to influence the entire Orange County office market.

 

Quick Stats:

  • 6.8% Orange County Unemployment Rate as of February 2021 
  • (952,873) SF Year to Date Negative Net Absorption 
  • 13.3% Total Vacancy Rate increased from Q4 2020
  • 489,206 SF Under Construction Current Quarter
  • $2.73 PSF Weighted FSG Average Asking Rental Rate

 

Click here to download the Q1 2021 Orange County Office Market Report.