Key Divisions in Irvine’s Commercial Real Estate Market

1. Office Spaces in Irvine, Ca

Irvine is home to some of the most sought-after office properties in Orange County, catering to industries such as tech, finance, and healthcare.

• Irvine Business Complex (IBC): A hub for Class A office spaces with access to John Wayne Airport and major freeways.

• Irvine Spectrum: Known for its mix of creative office spaces and proximity to dining, retail, and entertainment.

• Market Stats: Over 7.26 million square feet of office space is currently available for lease. Vacancy rates remain stable, attracting corporate tenants and startups alike.

2. Industrial Properties

The industrial market in Irvine is a critical driver of its economy, serving manufacturing, logistics, and distribution sectors.

• Key Areas: Irvine’s industrial zones are concentrated near the I-5 and I-405 freeways, offering logistical advantages.

• Market Stats: Approximately 2.14 million square feet of industrial space is available, with a current vacancy rate of 3.6% as of Q3 2024.

• Growth Factors: Demand for industrial properties is driven by e-commerce, warehousing, and advanced manufacturing.

3. Retail Spaces In Irvine, Ca

Retail properties in Irvine benefit from a strong local economy and high consumer spending.

• Irvine Spectrum Center: A landmark mixed-use development combining retail, dining, and entertainment.

• Great Park Neighborhoods: Emerging retail hubs supporting residential expansion.

• Market Stats: Retail spaces maintain a low vacancy rate of 3.6%, reflecting steady demand and economic vitality.

4. Medical Offices in Irvine, Ca

The healthcare sector’s growth has bolstered demand for specialized medical office spaces in Irvine.

• Locations: Proximity to major healthcare providers and UC Irvine Medical Center drives interest.

• Market Stats: Orange County’s medical office market has an overall vacancy rate of 11.7%, indicating stable demand for healthcare facilities.

5. Multi-Unit Commercial Properties in Irvine, Ca

Multi-unit properties are one of the most lucrative sectors of Irvine’s commercial real estate market, offering investors stable income and long-term appreciation. Irvine’s growing population and strong rental demand make multi-unit properties, such as apartment complexes and mixed-use developments, highly desirable.

• Key Areas: Multi-unit developments are thriving in neighborhoods like Great Park, Cypress Village, and Irvine Spectrum, where mixed-use properties integrate residential units with retail and office spaces.

• Market Stats: Irvine’s rental market boasts an occupancy rate of over 95%, with average monthly rents for multi-family units exceeding $2,900 per apartment, ensuring a steady income stream for investors.

• Growth Potential: Ongoing residential and commercial development in Irvine continues to increase demand for multi-unit properties, particularly near major employment centers and universities like UC Irvine.