Orange County California Enjoys Highest Office Rent Growth in U.S. Over Last Two Years at 23 Percent

Lack of Office Space in Core Markets Forcing U.S. Tech Firms to Expand in Adjacent Submarkets

According to CBRE’s annual Tech-30 Report, which measures the tech industry’s impact on office rents in the 30 leading tech markets in the U.S. and Canada, the willingness of tech companies to pay a premium for office space in the hottest tech submarkets is spilling over into neighboring submarkets as available office space dwindles.

As a result, adjacent submarkets and traditional downtowns with skylines–rather than the brick-and-beam buildings that tech companies have preferred–are primed to benefit, creating opportunity for commercial real estate investors.

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