Orange County 2020 Q2 Market Report

Orange County sees a modest increase in availability as COVID-19 lockdown causes the economy to contract

Overall availability in Orange County ended the second quarter at 18.4%, increasing 20 basis points over the previous quarter, but it is still 10 basis points lower than what was reported a year ago. Class A availability, now at 20.5%, increased 50 basis points from Q1, but is also below where it sat one year ago (21.2%). While these increases may seem slight given all the disruption caused by ongoing pandemic fallout, impacts on the overall economy and business environment have been severe. As a result, availability is expected to continue to increase over the coming quarters as businesses re-evaluate both workforce and work space needs.

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