Orange County Has Dueling Tech Hubs

Scott Wetzel

The technology sector is growing rapidly in Orange County, and the market has seen a recent increase in start-up activity. Many of these new and expanding tech companies are choosing to plant roots in the Airport Area market and the Irvine Spectrum market. According to research from JLL, tech start-ups in the Airport area have raised $195.2 million in venture capital, and tech start ups in the Irvine Spectrum market have raised $152.2 million. This collectively accounts for 91% of all start-up funding in Orange County.

It isn’t surprising that tech companies are landing in these two office markets. After all, they are two of the biggest office markets in Orange County, both offering quality space and central locations. “Existing labor pool, quality product, flexible landlords are key factors tech start-ups are located in the Airport Area and Irvine Spectrum,” Scott Wetzel, a VP at JLL, tells GlobeSt.com. “These two submarket are the two-headed tech capital of Orange County.  Long-standing companies like Broadcom and Blizzard—historically Airport Area and Irvine Spectrum, respectively—have generated a multitude of spin-offs and tech startups. The labor pool makes it easier for these emerging startups to hire quality talent.  Quality office product and a unique landlord profile in the Irvine Company also helps fuel the fire.”