COMMERCIAL REAL ESTATE NEWS
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Report shows stabilization for industrial real estate
Available space dipped slightly during the third quarter for the first time since 2007.
BY AMANDA EDENPublished: October 11, 2010 09:45 AM
A report by Newport Beach-based Voit Real Estate Services shows a decrease in Orange County’s available industrial space during the third quarter – a trend that hasn’t been seen in the market in more than two years.
“Overall, availability is decreasing and investment sales activity has increased – both signs that the office market is moving in a positive direction,” said Jerry Holdner, vice president of market research for Voit.
In Orange County, the overall availability of industrial space showed signs of increased stability and improvement due to lower rates over the same time last year.
Office leasing activity fell to 2.49 million square feet. Sales activity also decreased, with 770,000 square feet of office space sold during the third quarter.
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“Overall, availability is decreasing and investment sales activity has increased – both signs that the office market is moving in a positive direction,” said Jerry Holdner, vice president of market research for Voit. In Orange County, the overall availability of industrial space showed signs of increased stability and improvement due to lower rates over the same time last year. Office leasing activity fell to 2.49 million square feet. Sales activity also decreased, with 770,000 square feet of office space sold during the third quarter. |
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