The report by Integra Realty Resources also ranks the county's John Wayne Airport/Irvine area as the nation's third most-promising central business district for office investment.

Many other real estate experts agree with Integra's bullish outlook for OC. In a forecast presented to the local chapter of the Building Owners and Managers Association earlier this month, Richard "Dick" Sim, chairman of the Investment Properties Group for Newport Beach-based Irvine Co.--the county's largest landowner and developer--says all segments of the local commercial market should do well this year, even though the economy is slowing.

The bright forecast for Orange County's office sector is contained in Integra's 2001 "Viewpoint" report, an annual survey of major commercial real estate markets across the nation. The forecast is based on several factors, including vacancy rates, projected changes in property values, the availability of financing, each area's job-creation levels and overall economic growth.