Second Quarter 2026
Office Market Outlook
Orange County
Lincoln Property Company sold this 324,384-square-foot portfolio of two office and retail properties to a private investor for $63.13 million ($195 per square foot).
By J.C. Casillas
Managing Director of Research and Public Relations at NAI Capital Commercial
Managing Director of Research and Public Relations at NAI Capital Commercial
LEASING TRENDS
Leasing volume rose 4.6% QoQ but remained down 8.4% YoY, while under construction space fell sharply, down 32.0% QoQ and 49.6% YoY, pointing to a significant pullback in new supply. Asking rent rose 3.1% QoQ and 4.6% YoY, suggesting resilient pricing amid a shrinking construction pipeline.
SALES TRENDS
Sales volume fell sharply, down 74.8% QoQ and 76.8% YoY, while average sale price per square foot rose 9.9% QoQ and 52.0% YoY, reflecting a steep pullback in transaction activity even as pricing strengthened significantly.
