Times Are Changing - Q4 2014 Office Market Report
The Orange County office market ended the 4th quarter 2014 with a strong showing and positive indicators across the board. Vacancy rate dropped to 11.7%, down from 12.7% in the previous quarter. Absorption totaled 1,122,170 sf, more than doubling the 523,610 sf posted in the 3rd quarter. Asking rates continue their upward swing and are expected to stay on pace as vacancy rates continue to decline. Class A buildings continue to dominate the market as tenant activity still favors the South County areas.