• The Orange County unemployment rate significantly increased during the first half of the year to a staggering 14.5% in May.
  • The average asking lease rate decreased 0.3% quarter over quarter to $3.03 per sq. ft. per month.
  • Net absorption in Orange County totaled negative 392,921 sq. ft. in Q2 2020. Occupiers signed short term renewals, put their plans on hold or reduced space overall.