Office availability rate decreases to 20.8% as occupiers slowly come back to the office

In the first quarter 2022, the total availability rate in the Orange County office market decreased 20 basis points (bps) from 21.0% reported in the previous quarter to 20.8%. With the economy now reopened, many occupiers are active again compared to the last couple of years when most occupiers took a wait-and-see approach due to the pandemic. However, with white collar employees used to work-from-home (WFH) policies, it is now apparent that hybrid workplace strategies are here to stay and that companies and landlords will both have to work hard to get everyone back into the office again. As occupiers adapt to new workplace strategies, space footprints will continue to change to best fit occupiers' needs and their future business plans.

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