Third Quarter 2026
Office Market Outlook
Orange County
Broadcom acquired Five Point Gateway, a 660,893-SF office campus comprising two five-story buildings at 15101 and 15191 Alton Parkway, from PRP Real Assets for $215.77 million, or $578.21/SF.
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.
