June 8, 2016
For more on Orange County’s booming construction, check out Connect Orange County on July 28.
Construction of office projects are on the rise again in Orange County. Six major CRE projects accounted for 95% of new construction in 2016, totaling roughly 2.8 million square feet.
CBRE reports construction is up 461% from the winter quarter of 2015 and is the most for any quarter since the summer of 2007. In contrast, from October 2009 through March 2010, no new offices were built in Orange County.
Irvine Co. accounts for more than a third of the total, including two, 20-story towers under construction. Trammel Crow is building Boardwalk, a 537,000-square-foot project on a 7.5-acre site on Jamboree Rd., and Broadcom is building a 1.1 million-square-foot complex.
Resurgent activity includes both speculative and redevelopment of outdated buildings into more collaborative modern work environments.