Highlights from this quarter’s industrial market report:
San Clemente just approved the Luminar Business Park, a 20-acre industrial development in Rancho San Clemente Business Park. This long-vacant site is about to transform into one of the region’s most impactful business hubs.
Vacancy remains tight at 3.8%, and availability is just 4.7%.
Lease rates are holding strong at $1.61/SF NNN.
Demand outpaces supply in core submarkets like Mission Viejo (2.7%) and Rancho Santa Margarita (1.8%).
Purchasing interest remains high with median sale prices steady at $470/SF and cap rates averaging 5%.
Meanwhile, property available for sale is limited; only 21,600 SF sold in Q3. Most owners are holding long-term.
Read the full Q3 Saddleback Corridor Industrial Market Report here.
