Download Report Download Report
Q3 2020 ORANGE COUNTY OFFICE MARKET REPORT
COVID HITS THE AIRPORT MARKET Companies in the Airport market shed a near-record volume of space in the third quarter, forcing the countywide office vacancy rate up 73 basis points to 11.6%, as the economic shock of the Covid pandemic rippled through the county. The Airport market, which has 37% of the county’s 117- million-SF inventory, was 724,151 SF in the red in the third quarter, the most negative absorption since Q4 2007. It drove…