Office Space in OC Starting to fill-up

Posted by Scot Campbell  Source: OC Register/Grubb & Ellis

The new rental actvity is “a good sign for the local economy, as it suggests that many companies have started to expand operations in expectation of a recovery.”

  • Orange County “net absorption” — new rentals minus departures — filled 690,329 square feet in the first quarter vs. 663,979 square feet for all of 2010.
  • Fourth consecutive quarter of positive absorption, a streak that’s filled 1.7 million square feet worth of Orange County offices.

Net increases in Office Space occupancy in Orange County are a good indicator of future job growth.

Projected job growth is welcome news for the housing market since job growth is highly correlated to household formation.   

To read the entire article, go to:  http://lansner.ocregister.com/2011/04/26/o-c-landlords-already-beat-2010-office-rentals/107965/

In the last 4 Quarters, 1.7 million sq.ft. of office space has been absorbed

 

 

 

 

 

 

 

 

Scot Campbell is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA.  He has been a licensed broker for over 21 years and has brokered over 1000 homes and just about every type of transaction imaginable.  View his website: www.RealtyDigestOnline.com  He can be reached at 714-960-0700 at the office, 714-336-0394 on his mobile number or via email at Scot.Campbell@ColdwellBanker.com

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