Orange County Office Market Overview The Orange County office market continued its gradual recovery during Q2 2026, posting its third consecutive quarter of positive net absorption and its fourth straight quarter of declining vacancy. Demand remained concentrated in high-quality Class A assets, particularly in the Airport Area, while overall availability continued to trend downward from post-pandemic highs. Although leasing activity improved quarter-over-quarter, volumes remain below historical norms as tenants continue to right-size their space needs. Investment sales activity remained muted, with many transactions driven by redevelopment and alternative-use opportunities rather than traditional office acquisitions.
