Second quarter leasing activity saw a 3.0% quarterly increase

In the second quarter of 2026, a significant portion of deal volume was driven by mid-sized lease transactions, with many of the largest leases falling within the 20,000-square-feet (sf) range. Several of the quarter’s top leases were also renewals, underscoring tenants’ preference to remain in place amid evolving workplace strategies. Overall office transaction activity in Orange County totaled 1.3 million square feet (msf). While this volume fell below the long-term quarterly average of 1.5 msf, leasing activity increased 3.2% from the previous quarter. Leasing was primarily concentrated in the Airport Area and Irvine Spectrum submarkets, which accounted for most of the quarter’s largest transactions. Tenant demand continues to show signs of stabilization as occupiers gain greater confidence in their future business plans and move beyond a wait-and-see approach.

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