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Industrial Market Softens, Prices Remain Stable

ANAHEIM, CA-The most recent report released by Voit Commercial Brokerage suggests that the county's industrial market is softening, but activity remains strong.

By Joel Cone | Updated on April 11, 2001

ANAHEIM, CA-The Orange County industrial market softened during the first quarter of the year, as absorption numbers released Monday by Voit Commercial Brokerage reveal negative absorption and half as much construction of new product under way at the end of the same quarter last year.

Jerry Holdner, VP of market research for Voit, cites lack of available land and higher land prices for the downturn in construction levels, although 400,000 sf more new product is currently in the pipeline than there was at the end of the previous quarter, he adds. Currently, two million sf of space of industrial space is under construction, with another 7.4 million sf planned.

“Land prices are higher now because users are willing to pay more than the developers,” Holdner explains. “People who own the land are now looking to sell to the users who will hire a developer to build.”

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