Market Overview

Tenant-focused analysis of recent leasing activity (2,000 - 25,000 SF)

Avg Lease Rate

$2.25
Range: $1.75 - $3.75Per SF / Month

Deal Activity

15
128,009 SF TotalTotal Signed Leases

Avg Deal Size

8,534
Median: 6,529 SFSquare Feet

Avg Months on Market

14.8
Market VelocityMonths

Market Insights

Rate Analysis: The market is seeing a tight range of rates averaging $2.25/SF, with premium spaces commanding up to $3.75/SF. Most activity is clustered around the $2.00 - $2.25 mark.

Deal Velocity: Activity is robust with 15 deals signed in just 8 weeks. The majority of activity is in the small-to-medium size range (2,000 - 10,000 SF).

Market Velocity: Properties are moving quickly with an average time on market of 14.8 months. High demand for quality space is driving shorter vacancy periods.

Deal Count by Size

Small (2K-5K)Medium(5K-10K)Large(10K-25K)

Time on Market Distribution

  • Short (≤12 mos)
  • Medium (13-24 mos)
  • Long (>24 mos)

Top Properties by Activity

7585 Irvine Center Dr400 Spectrum Center Dr15380 Barranca Pkwy100 Technology Dr7555 Irvine Center Dr01234

Most Active Buildings

7585 Irvine Center Dr4 Deals
37,041 SF LeasedAvg $2.00
15380 Barranca Pkwy1 Deals
19,530 SF LeasedAvg $1.90
100 Technology Dr1 Deals
15,802 SF LeasedAvg $1.85
400 Spectrum Center Dr2 Deals
12,443 SF LeasedAvg $2.05
7555 Irvine Center Dr1 Deals
9,032 SF LeasedAvg $2.05
100 Progress1 Deals
8,742 SF LeasedAvg $2.85
View All Comps →

Tenant Takeaways

  • •Standard market terms for this asset class are typically 5-7 years.
  • •Spectrum Center properties are commanding premium rates.
  • •Larger blocks (>10k SF) are trading at a discount compared to smaller suites.