Report | Orange County Office Insight - Q4 2015
For the fifth straight year, the Orange County office market was riding high on the shoulders of continued positive net absorption—despite a slightly negative Q4 2015 that was caused by previously owner-occupied buildings being sold and then vacated.
A number of major companies—St. Joseph Heritage Medical Group, Hyundai Capital, Ingram Micro and Carrington Mortgage—each had significant occupancy gains of more than 100,000 square feet over the last 12 months, with the Airport Area accounting for nearly half of the overall total net absorption among submarkets.
Investors found solace in the market’s increasing rents—even as they continue to hold below pre-recession levels—and new construction deliveries, which are set to bring more than 570,000 square feet to market in 2016.
Learn more about what’s happening—and what we expect to occur in the coming months—across the Orange County office market in our Q4 US Office Insight.
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