March 24, 2016
Although total Orange County market office rents increased 27.2 percent since 2012, while industrial rents have risen 24.8 percent through Q4 2015, they remain more affordable than other California markets, says a new report from JLL Research.
The average monthly office rents (FSG) in Orange County now range from $2.48 for all space and $2.87 for Class A space. That places the market well below the highest rents being achieved in San Francisco ($5.73/$6.01).
The average monthly industrial rents in Orange County equaled what was being achieved in Los Angeles at $0.67 NNN, but trailed San Francisco, which hit $1.03.
Mature and startup companies are drawn to Orange County for the highly educated and skilled workforce, as well as the quality of life.