Orange County snapshot
- In addition to leading Orange County’s rent growth, the Airport Area surpassed 2007’s peak average asking monthly rental rate ($3.02 per square foot, full service gross) in Q4 2016 with a rent of $3.06 per square foot.
- Although West County recorded the lowest rent growth since 2010, the submarket is not as susceptible to cyclical fluctuations as most other submarkets.
- The current average rent for the total Orange County market of $2.68 per square foot is only 2.2 percent off the 2007 peak rent of $2.74 per square foot.
- Strong job growth from startups and mature companies is a key factor in driving the demand for office space in Orange County.
Source: JLL Research
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