Sizeable new leases and relocations drive leasing activity in Q3

Leasing activity in Orange County (OC) totaled 2.1 million square feet (msf) in Q3 2026, up 59.7% quarter over quarter and 44.6% year over year. Activity exceeded the five-year quarterly average of 1.6 msf, supported by several large transactions. Envista Holdings led the quarter with a 117,802-square-foot (sf) relocation in the Irvine Spectrum submarket. Another notable transaction was defense manufacturer Anduril Industries’ 102,000-sf lease in the Airport Area. Anduril’s continued expansion in OC reinforces broader growth in defense-sector leasing across Southern California. These sizable commitments signal renewed demand and tenants’ willingness to make long-term real estate decisions.

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