March 28, 2017 Comments Off on Orange County Tech Boom Fueled by Affordability and Talent Views: 496 California News, Orange County

Orange County Tech Boom Fueled by Affordability and Talent

Orange County’s low business and labor costs, compared with other California counties, makes it a viable option for companies. That’s the conclusion of the latest research from CBRE.

Other key findings include:

  • Asking rents for CRE space in Orange County was $31.20 per-square-foot in Q4 2014, the lowest among metro office markets in the state. The highest was San Francisco at $71.20 per square foot.
  • Tech companies are seeking 1.8 million square feet of office space in OC, totaling 36% of the market’s demand.
  • Tech companies accounted for 25.6% of OC office leasing activity in 2016, up from 13.6% in 2012.
  • Tech employment in OC grew 40.7% from 2005 to 2016.

Read more at CBRE Research

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