OC Industrial Leasing Booms to 2014 Levels

Orange County’s industrial market is seeing a pandemic-fueled surge. A third quarter report from JLL found that industrial leasing activity in Orange County has hit levels not seen since 2014. During the quarter, there were 57 total totaling more than 2 million square feet. That is a 15% increase over the third quarter average for the past five years.

“During the second quarter, occupies and investors of industrial real estate were very reluctant in executing long forward commitments as there was a lot of unknowns as the pandemic unfolded,” Byron Foss, EVP at JLL, tells GlobeSt.com. “In the third quarter, as the market and economy shifted, pent up demand positively impacted activity in the market.  We saw companies move forward with their real estate decisions that supported their growth and business plans to support the new economy.”