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R&D Market Stabilizes in Q1

NEWPORT BEACH, CA-The numbers are encouraging for the Orange County research and development market as both vacancy and availability have decreased, reports Voit Real Estate Services.

By Carrie Rossenfeld | Updated on April 18, 2013

NEWPORT BEACH, CA-The Orange County research and development sector showed clearer signs of stabilization in the first quarter, according to a report by Voit Real Estate Services. Both vacancy and availability decreased compared to the prior quarter’s rate and 2012′s first-quarter rate, and the market posted more than 230,000 square feet of positive net absorption for the start of 2013. The absorption rate of 232,449 square feet gives the R&D market a total of just over 900,000 square feet of positive absorption for the last nine quarters.

“We are seeing a decrease in the amount of available space in the Orange County R&D market,” say Jerry Holdner, VP of market research, and Tony Tran, market research analyst for Voit. “As we continue into 2013, absorption has been positive, and with very few new deliveries in the pipeline to apply upward pressure on vacancy, the market should continue to stabilize.”

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