Orange County Industrial Market Outlook 2Q 2017
Rents surpassed the prior peak while vacancy ended the second quarter of 2017 at the lowest level on record. Vacancy ended the quarter at 2.4%, down 30 basis points over the previous quarter and down 40 basis points from this time in 2016. Market activity was mixed among sales and leasing this quarter, with an increase in sale volume but a decline in leasing volume. Lack of land for development opportunities has limited construction over the last several years.