Airport Area leads the overall market in leasing activity in the fourth quarter

In the fourth quarter 2024, a significant portion of this quarter's deal volume came from the Airport Area submarket, particularly within the pharmaceuticals and legal services sector. Although a few notable leases exceeded 50,000 square feet (sf), five out of the top 10 lease transactions were renewals. Overall office leasing activity in Orange County recorded 1.5 million square feet (msf), reflecting a 21.7% decrease from the previous quarter and a 3.3% decrease compared to a year ago. However, full-year 2024 total leasing activity was just under 6.3 msf, up from 6.0 msf in 2023.

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