Costa Mesa, population 112,822, is primarily known for its newly renovated 4 & 5 Star office spaces. This submarket has stable vacancy and rent growth rates, making it a desirable as well as competitive location for businesses, such as Experian and Vans, to establish themselves. Serving a variety of industries, Costa Mesa is Orange County’s center of commerce, culture, and cuisine, and although its sales volume is not as high as Irvine, individuals continue to be just as eager in investing in these assets.

 

Office Specs

Inventory SF: 9.3 M

Under Construction SF: 0 K

12 Month Net Absorption SF: -158 K

Vacancy Rate: 13.6%

Gross Asking Rent/SF: $2.63

12 Month Rent Growth: 3.6%

 

 

Industrial Specs

Inventory SF: 13.1 M

Under Construction SF: 0 K

12 Month Net Absorption SF: -226 K

Vacancy Rate: 6.5%

Asking Rent/SF: $1.33

12 Month Rent Growth: 5.8%

 

 

Fun Facts:

1.     South Coast Plaza, one of America’s largest and most successful shopping centers, is in Costa Mesa. (OCRegister)

2.     World War II brought many thousands of people to the area for training at the Santa Ana Army Air Base. (City of Costa Mesa)