2022 Q1 INDUSTRIAL REPORT ORANGE COUNTY
Abstract
Continued strong demand for industrial space pushed the countywide vacancy rate to a record low 2% in the first quarter. Two buildings totaling 283,772 SF were completed in Q1, but the added supply was outstripped by Q1’s 483,450 SF of positive net absorption. South County had the slowest rent growth in the last four quarters, 13.2%. South County also has the highest vacancy rate. Three of the top 10 new leases in the Q1. The county’S. new leases totaled 304,040 SF in West County. The largest new lease in Q 1 was in the top ten new leases. The most new leases are in the West County submarket. There have been 1.17 million
