December 16, 2016
New research from JLL reveals that large blocks of Orange County, CA industrial space are rapidly disappearing. In fact, in 2017 there’s projected to be only 10 options available of 100,000 square feet or more, with six additional proposed projects in the pipeline. There were 16 options this year, when the vacancy rate reached 1.1%.
To put today’s market into perspective, in 2008 there were 53 options of similar size, when the county experienced a 3.2% vacancy.
Other interesting Orange County findings include:
- OC has the second lowest vacancy in the country, behind only Los Angeles, and is well below the U.S. vacancy rate of 5.8%.
- Occupiers with requirements greater than 100,000 square feet have seen the number of space options decline for six consecutive years. Availabilities are even lower when looking for Class A space.
- New construction will help to increase occupier activity, as competition for high caliber space continues to be strong.
For comments, questions or concerns, please contact Dennis Kaiser