IBC and Airport Area Profile

The John Wayne Airport Area Office Market

Orange County Skyline

Our focus

Class A and Class B space surrounding the John Wayne Airport in Orange County.  We do not claim to be experts on the more than 20 million square feet stretching to the “Y”.

Market Size

Orange County is 3 million people in 34 cities sprawling over 800 square miles.  In recent times, it was once the 7th largest economy in the United States. We have the  highest concentrations of science-technology- engineering-mathematics (STEM) talent in Southern California. 100,000 people work in the airport area. We have sunshine 275 days out of the year, and John Wayne International (SNA) airport ranks high in satisfaction with 100 departures daily.

The Largest Landlords

Notably and remarkably, Donald Bren’s Irvine Company controls 18 million square feet of office space.  Other institutional office landlords are Equity Office/Blackstone, Hines, Greenlaw, Olen, LBA, Segerstrom, TA Realty and Deutsche Bank.

A Few of the Largest Tenants

The area’s economic vitality is reflected in its diverse base of finance, energy, professional services, life sciences and technology tenant base. It attracts major companies such as Pacific Mutual, Clean Energy Fuels, APL, Blizzard Entertainment, Broadcom, Western Digital, Ingram Micro, and Skyworks Solutions. This underscores the region’s appeal to businesses across various industries from legacy sectors to emerging fields like media & streaming. 

Your Challenge – Our Strength 

Finding space is difficult and time-consuming because of the many direct and sublease availabilities.  Having your own broker with local knowledge is critical to getting the right space and the best deal. 

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2026 Office Outlook Near John Wayne Airport

Orange County’s Economy: A Bright Outlook

The Orange County economy thrives due to its excellent weather, 40 miles of coastline, and a population of over 3 million residents. Key industries in the Newport Beach/Irvine John Wayne Airport area include finance, energy, professional services, life sciences, and technology. In recent years, tech media companies from Silicon Beach in LA’s South Bay, such as El Segundo, have started moving into the region. As a result, the area now ranks among the top five office space markets on the West Coast and the top 30 nationwide.

Office Market Outlook: 2026

Orange County offers 40 million square feet of office space, but high vacancy rates remains the challenge to landlords. In the fourth quarter of 2025, the vacancy rate dropped slightly to 17.1%. While this is an improvement, it is still higher than historical averages. On a positive note, net absorption has been positive for seven consecutive quarters, with a gain of 85,000 square feet this past quarter.

Two years ago, the Irvine market reported a 22% vacancy rate. Much of this was due to Irvine’s surplus of empty office spaces. With demand for office space remaining flat, developers halted new projects. This has left the construction pipeline empty for the first time since the 2008 global crisis.

Tenants now focus on “flight-to-quality” spaces—smaller, high-end offices with walkable locations and better amenities. Lower rents have created opportunities, particularly in non-core Class A buildings and all Class B and Class C properties.

John Wayne Airport Area: A Premium Submarket

The John Wayne Airport submarket, including Newport Center and PCH corridor, is among the county’s most sought-after areas. Median office rents here are $40 per square foot annually. Featured in this market is Newport Center (Fashion Island) where mid-rise office buildings are close to desirable residential neighborhoods with median household income of over $250,000 .  As of Q1 2026, medical space near Hoag Hospital and Newport Center is $6 – $7 per quare foot per month full service gross.  Reserved parking can Be $140 per car per month. 

Fashion Island boasts some of the county’s most prestigious business office spaces. Rents in Newport Beach can exceed $6.00 per square foot per month $72 annually, which make it the most expensive office market in Orange County.

Challenges in Navigating the Market

The size and complexity of Orange County’s office market make finding the right space a time-intensive task. Tenants can achieve the best outcomes by working with experts who understand local market dynamics.