Leasing of O.C. industrial space hits 6-year high
July 11th, 2011, 12:42 pm ? 13 Comments ? posted by Jon Lansner
A rebound in demand for Orange County industrial space has pushed fresh renting of local factories and warehouses to its highest level since 2005.
That?s a highlight from the second quarter local leasing report from Voit Real Estate Services. The report also says:
- In the second quarter, 1.1 million square feet of positive absorption of Orange County?s industrial space ? highest since fourth quarter of 2005.
- Demand boost has filled up the equivalent of 3.3 million square feet of factories and warehouses in the most recent five quarters. That?s a faster pace than the previous renting boom ? 15 months through the end of 2007 (2.3 million square feet.)
- Orange County industrial vacancy of 5.13 percent in the second quarter vs. 5.58 percent in the previous quarter and 6.12 percent a year earlier.
- Availability rate of 9.21 percent in the second quarter vs. previous quarter?s 9.28 percent and 10.83 percent a year ago.
- Average asking triple-net lease rate was flat at 52 cents per month per square foot in the second quarter.
- Jerry Holdner at Voit sees, ?Clear indication that the Orange County market is strengthening.?
| For some real estate context ? | |
| HOUSING TRENDS | INDUSTRY NEWS |
Source: http://lansner.ocregister.com/2011/07/11/leasing-of-o-c-industrial-space-hits-6-year-high/116709/
newegg ice age oasis of the seas smu twins cbe monica bellucci
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.