OC Industrial Group – Orange County Commercial Properties

Demand for industrial space ticked downward for the second straight quarter, continuing a slight easing that began last year. Despite the reduced activity, rents notched another healthy gain and vacancy rates settled at or near record lows countywide...

Demand for premium office space returned in the third quarter with four buildings opening their doors near the Irvine Spectrum at least 63% preleased. But the modest growth in the Class A market was overcome by another quarterly absorption loss in Class...

The mid-year vacancy rate for Orange County industrial buildings hit 2.4%, the lowest ever, and lease rates continued their record climb while more obsolete buildings making way for new development adds to the strain on
the market.
Average asking rents countywide are up more than 6% year over year with increases ranging from 2.5% in South County to 10.3% in West County. But overall gains slowed from the 10.2% jump from the previous four quarters....

With the countywide average vacancy rate falling to 2.4% in the first quarter, available industrial space has never been in shorter supply. In the North County market, the first-quarter vacancy rate fell to 1.5%.
Of the county’s 8,310 industrial buildings totaling 276.9 million sq. ft., about 200 are vacant and an additional 250 are listed as available. Few buildings offer well-located, quality options for growth-minded companies. Much of the available space...