Orange County Retail Figures Q1 2025

— The availability rate in the Orange County (OC) retail market declined by 10 basis-points (bps) quarter-over-quarter to 3.7% in Q1 2025. The tightening market underscored rising demand as tenants competed for limited space in Orange County.

— The total retail sq. ft. absorbed in Q1 2025 was 92,000 sq. ft., compared to 565,000 sq. ft. in Q4 2024. New leasing in the Neighborhood, Community, & Strip centers drove positive absorption with 145,000 sq. ft. newly occupied while Power centers realized the most negative absorption in Q1 2025 with 58,000 sq. ft. of space becoming newly vacant.

— The overall average net asking rent for retail in Orange County ended Q1 2025 at $2.68 per sq. ft. per month, which was up $0.11 from Q4 2024. The Central Coast boasted the highest asking rents at $4.08 per sq. ft. per month and Central Orange County had the lowest asking rents at $2.37 per sq. ft. per month.

— The total retail investment sales in Q1 2025 amounted to $283.3 million in total volume, compared to $223.6 million in Q4 2024. Sales volume increased for the third consecutive quarter despite ongoing economic uncertainty.