IRVINE, CA—Vacancy in the Orange County market may have bottomed out. A second quarter report on the county’s market issued this week by Voit Commercial Brokerage finds overall vacancy at 4.36%, approximately 60 basis points higher than it was one year ago, when vacancy stood at 3.79%.

“It’s steady as she goes,” states Jerry Holdner, Voit’s vice president of market research. “The market’s kind of flat, but it’s not unhealthy. We’re still at a record low vacancy rate, and while it’s above last year, anything above 5% is phenomenal.”

The lowest vacancy rate in the county, 3.68%, can be found in North Orange County, the largest submarket in the county with 46% of all the county’s industrial buildings.

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