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California  + Orange County  + Office  | 
LeFrak, CBRE Complete Two Jersey City Leases

How Much Have OC Office Rents Grown?

Orange County’s office market rents have climbed dramatically over the past three years. In fact, total rent growth for the county was 31.4%, and three of the five main submarkets experienced double-digit rent growth since 2010. Two others were just shy of 10% increases, according to a new report from JLL Research.

Ranking OC Rent Growth by Submarket

  • Airport Submarket 47.6% growth
  • South County Submarket 39.4% growth
  • North County Submarket 13.8% growth
  • Central County Submarket 9.7% growth
  • West County Submarket 8% growth

Key findings of the report include:

  • Airport submarket surpassed 2007’s peak average asking monthly rental rate ($3.02 per-square-foot) in Q4 2016, with a rent of $3.06 per-square-foot.
  • West County recorded lowest rent growth since 2010, mainly because submarket is not as susceptible to cyclical fluctuations as most other submarkets.
  • Current average rent for the total Orange County market of $2.68 per-square-foot is only 2.2% off 2007 peak rent of $2.74 per-square-foot.
  • Strong job growth from startups and mature companies is a key factor driving demand.

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Inside The Story

Read more at JLL Research

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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