After strong growth in the first half of 2023, leasing activity in Orange County declined by 36% in the third quarter, with nearly 432,000 square feet of negative net absorption, reflecting an overall cooling of industrial demand in Southern California.
Sublease availability exceeded 2 million square feet in Orange County at the end of Q3, with rents leveling off after doubling over the past five years, according to JLL's Q3 market report.
"The recent declines in imports and a more conservative market sentiment have begun to normalize the surging demand observed since the pandemic," the report said.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
