Market Report
Orange County Retail Market Report
3Q 2026
Shopping Center Leasing Stands Out
in Southern California’s Least Vacant Market
Overall demand exceeds new supply through volatile period. Orange County retail vacancy has hovered between 4.0 and 4.6 percent for more than five straight years, reflecting steadfast tenant demand for space in this supply-constrained market. Vacancy is poised to hold at the lower end of this range as deliveries remain scarce in the second half and early-year lease executions translate into a wave of move-ins that will aid absorption. Still, certain property types will face challenges. Local department and drug store vacancy reached 9.4 and 8.5 percent, respectively, in June, with this elevated availability likely to offset downward vacancy movement across other single-tenant sectors.
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