{"id":1004806716,"date":"2026-07-31T02:50:10","date_gmt":"2026-07-31T10:50:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004806716"},"modified":"2026-07-31T02:50:12","modified_gmt":"2026-07-31T10:50:12","slug":"step-into-my-office-orange-countys-tale-of-two-markets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/step-into-my-office-orange-countys-tale-of-two-markets\/","title":{"rendered":"Step Into My Office: Orange County\u2019s Tale of Two Markets"},"content":{"rendered":"<iframe allow=\"autoplay *; encrypted-media *; fullscreen *; clipboard-write\" frameborder=\"0\" height=\"175\" style=\"width:100%;overflow:hidden;border-radius:10px;\" sandbox=\"allow-forms allow-popups allow-same-origin allow-scripts allow-storage-access-by-user-activation allow-top-navigation-by-user-activation\" src=\"https:\/\/embed.podcasts.apple.com\/ro\/podcast\/step-into-my-office-orange-countys-tale-of-two-markets\/id1552202952?i=1000779259933\" ><\/iframe>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a6c9b64d4d2f&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"675\" data-attachment-id=\"1004806941\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/step-into-my-office-orange-countys-tale-of-two-markets\/step-into-my-office-073026\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Step-Into-My-Office-073026.jpg\" data-orig-size=\"900,675\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Step Into My Office 073026\" data-image-description=\"&lt;p&gt;Headshot provided via email&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Allison Kelly, senior vice president at CBRE, discusses what is driving Orange County\u2019s office reset, from ownership shifts to flight-to-quality leasing. Headshot courtesy of CBRE, image by peshkov\/iStockphoto.com&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Step-Into-My-Office-073026.jpg?w=900\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Step-Into-My-Office-073026.jpg\" alt=\"Step Into My Office episode with CBRE\" class=\"wp-image-1004806941\" style=\"width:378px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Step-Into-My-Office-073026.jpg 900w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Step-Into-My-Office-073026.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Step-Into-My-Office-073026.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Allison Kelly, senior vice president at CBRE, discusses what is driving Orange County\u2019s office reset, from ownership shifts to flight-to-quality leasing. Headshot courtesy of CBRE, image by peshkov\/iStockphoto.com<\/figcaption><\/figure><\/div>\n\n\n<p>Orange County\u2019s office market is moving from correction to recalibration. While the sector is still navigating the effects of right-sizing and post-pandemic occupancy shifts, <a href=\"https:\/\/www.cbre.com\/insights\/figures\/orange-county-office-figures-q2-2026\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CBRE\u2019s latest report<\/a> points to a market that is gradually finding its footing. With vacancy remaining relatively steady at 13.3 percent and negative net absorption narrowing compared to the first quarter, Orange County appears to be moving closer to balance.<\/p>\n\n\n\n<p>That recovery, however, is increasingly selective. Demand is concentrating around well-located, high-quality properties, particularly in the Greater Airport Area and Irvine Spectrum, while older Class B and C assets are being reevaluated for new uses. At the same time, Orange County is still attracting office commitments across different parts of the market, from owner-user <a href=\"https:\/\/www.commercialsearch.com\/news\/west-capital-lending-buys-orange-county-office-building-for-new-hq\/\">acquisitions at reset pricing<\/a> to <a href=\"https:\/\/www.commercialsearch.com\/news\/county-of-orange-expands-local-office-footprint\/\">long-term public-sector leases<\/a> and new flex office locations.<\/p>\n\n\n\n<p>In this episode of <em>Step Into My Office<\/em>, CPE\u2019s Olivia Bunescu talks with Allison Kelly, senior vice president at CBRE, about what is driving Orange County\u2019s office market now. Kelly discusses stabilizing fundamentals, the Greater Airport Area, the split between long-term owners and new high-net-worth buyers, institutional capital\u2019s hesitation and why Class A assets continue to outperform older commodity buildings.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#dddddd;color:#dddddd\"\/>\n\n\n\n<p><strong>LISTEN TO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/step-into-my-office-inside-denvers-distressed-office-rebound\/\">Step Into My Office: Inside Denver\u2019s Distressed Office Rebound<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#dddddd;color:#dddddd\"\/>\n\n\n\n<p>For Kelly, Orange County\u2019s next phase will be defined less by a broad office rebound and more by how each property is positioned within a market where stability, redevelopment and flight to quality are all happening at once.<\/p>\n\n\n\n<p>Here\u2019s what they discussed:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Orange County\u2019s stabilizing office fundamentals (01:30)<\/li>\n\n\n\n<li>The market\u2019s recovery is rooted in occupier diversity (03:03)<\/li>\n\n\n\n<li>Which tenants are driving demand? (05:05)<\/li>\n\n\n\n<li>From negative absorption to a positive trajectory (07:39)<\/li>\n\n\n\n<li>Submarkets leading leasing momentum (08:34)<\/li>\n\n\n\n<li>A tale of two ownership structures (10:44)<\/li>\n\n\n\n<li>Why institutional capital remains hesitant on office (15:10)<\/li>\n\n\n\n<li>Spec suites and move-in-ready space gain traction (17:22)<\/li>\n\n\n\n<li>Class A assets outperform, as older buildings seek new uses (20:35)<\/li>\n\n\n\n<li>What\u2019s on top of the list for occupiers? (22:27)<\/li>\n\n\n\n<li>Stability, growth and redevelopment ahead (25:16)<\/li>\n<\/ul>\n\n\n\n<p><em>Follow, rate and review CPE\u2019s podcasts on&nbsp;<a href=\"https:\/\/open.spotify.com\/show\/192KwbDpOsZbF3dBXfaDkS\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/podcasts.apple.com\/ro\/podcast\/commercial-property-executive\/id1552202952\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a><\/em>&nbsp;<em>and don\u2019t forget to subscribe to CPE\u2019s recently relaunched&nbsp;<a href=\"https:\/\/www.youtube.com\/@CommercialPropertyExecutive\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube<\/a>&nbsp;channel!<\/em><\/p>\n\n\n\n<p><em>Music credit: Sunrise Sprint Office Beats via stocktune.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE\u2019s Allison Kelly breaks down Orange County\u2019s office recovery, where well-capitalized owners and selective occupiers are reshaping the market in this episode with CPE\u2019s Olivia Bunescu. <\/p>\n","protected":false},"author":2703,"featured_media":1004806941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21747,34267,21795,15],"tags":[32789,52577],"class_list":["post-1004806716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-office","category-orange-county","category-podcasts","category-west","tag-cbre","tag-step-into-my-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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