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Irvine, CA Irvine, CA

The office vacancy rate remained relatively flat in the second quarter, decreasing only 30 basis points to 11.3%—according to a new report from Cushman & Wakefield. While the vacancy rate barely nudged, leasing activity and absorption was strong and rental rates continued to rise. The stagnant vacancy rate is likely due to new office product that came to market during the quarter.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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