Thursday, January 10, 2013

Voit Reports Positive Absorption for Office and Low Industrial Vacancy in Orange County, CA

Jerry Holdner
Orange County, CA (Jan/ 10, 2013) – In the final quarter of 2012, the Orange County office market posted nearly 500,000 square feet of positive net absorption, giving the market approximately 1.6 million square feet of positive absorption for the year and over 4.6 million square feet of positive absorption over 10 consecutive quarters, according to the Fourth Quarter Market Report from Voit Real Estate Services. 

In addition, the industrial market in Orange County posted one of the lowest vacancy rates seen in 15 quarters, finishing the year at 4.68 percent.

“These are encouraging numbers across the board, and we anticipate that this improvement will continue steadily throughout 2013,” says Jerry Holdner, Vice President of Market Research at Voit.

 “The big news is that lease rates have likely hit bottom in the office market, where Class A product is leading the recovery, and low vacancy and availability are driving up value and rental rates in the industrial market.”
For a complete copy of the company’s news release, please contact:
Jenn Quader / Judith Brower
Brower, Miller & Cole
(949) 955-7940

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