An industrial campus in Rancho Mission Viejo secured two leases, it was announced this month.
The signings were part of continued leasing activity at Los Patrones Business Park but also bucked a general trend of rising vacancies and declining asking lease rates across the entirety of Orange County’s industrial market.
Laguna Beach-based JH Wall Paints, a family-owned business that specializes in interior lime wash paint products, committed to 3,620 square feet at 28600-28650 Airoso St., Rancho Mission Viejo.
Precision Aerial Services, which offers its customers aerial lifts and crane equipment, signed a lease for 2,030 square feet, also at Los Patrones Business Park.
JH Wall Paints plans to use its space for e-commerce distribution and administrative work. Precision Aerial Services would use its space for equipment storage.
Both deals were brokered by JLL, with Kris Smith and Louis Tomaselli representing the landlord, Los Patrones Business Partners II LLC.
Los Patrones Business Park
Los Patrones Business Park was developed in two phases. The first phase was a 20,424-square-foot building at 28600 Airoso St. Phase two was built as a 12,922-square-foot building at 28650 Airoso St.
CoStar data shows the industrial campus has already drawn a few tenants, including fast casual restaurant Oak Ranch Grill, winery and brewery Frisby, a swimming academy, a pet spa hotel and a Muay Thai/Jiu Jitsu gym.
“We continue to see strong demand at multi-tenant industrial facilities in Orange County and throughout Southern California,” Smith, a vice president at JLL, said in a statement.
“Both companies were attracted to Los Patrones Business Park because of its strategic location, secured facility and availability for immediate occupancy.”
The industrial campus was established by Rancho Mission Viejo Co. and TheoPacific Corp.
“When completed, the 50-acre site will include a variety of industrial, commercial, office, retail, residential, medical and recreational facilities to support South Orange County’s growing residential and business communities,” according to a CoStar statement about the Los Patrones campus.
Los Patrones Business Park is located near Interstate 5 Freeway, the 241 Toll Road and State Route 74 (Ortega Highway).
Phase two of Los Patrones Business Park features 18-foot clear height, secure yard and loading area.
Orange County Industrial Market
JLL’s brokers said Los Patrones Business Park’s leasing momentum is growing, but CBRE, in its latest market report, isn’t as optimistic about Orange County’s industrial market.
“The Orange County industrial market experienced continued softening in Q2 2025, marked by rising vacancy and declining asking lease rates,” according to the CBRE report, which was published in mid-July.
“Despite robust leasing activity and improving net absorption trends, economic uncertainty and concerns surrounding tariffs contributed to a cautious approach among decision-makers, lessening the urgency to commit to space,” the CBRE report continued.
JLL, in its quarterly report on the Orange County market, said leases of 50,000 to 100,000 square feet spiked nearly 69% in the second quarter, compared to the first three months of 2025.
The JLL report also expressed overall optimism despite the market’s current soft state.
“Looking ahead, trade policy uncertainty may persist in the medium term, potentially prolonging and intensifying the current market moderation in Southern California,” according to JLL analysts. “Nevertheless, Q2 trends revealed Orange County’s underlying resilience.
The robust local production and advanced manufacturing sectors should position Orange County to effectively withstand the coming challenges.”
