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| 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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