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Report: Drop in Office Rents will Continue

ORANGE COUNTY, CA-New research predicts a further slip in office rental rates as the year progresses. According to a recent report by Delta Associates, office rents are not expected to stabilize until the latter half of the year.

By Erin Cassin | Updated on February 07, 2002

ORANGE COUNTY-The county’s office market will continue to experience falling rental rates in the months ahead, according to recent research.

Office rental rates are expected to slip, as the vacancy level continues to rise, says a recently published report by Delta Associates, the research affiliate of Chicago-based Transwestern Commercial Services. As the tenant base shrinks, rental rates will continue to drift downward until the latter half of the year. “Rents will likely stabilize by year-end 2002, as the market begins its anticipated recovery,” the report points out.

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