IRVINE CA—Orange County's healthcare sector has remained strong since the recession, and now the financial and banking arena is recovering. This according to a first-quarter Office Insight Report from Jones Lang LaSalle. The report was compiled by Jonathan Ruffalo, senior analyst at JLL's Irvine Orange County office in Irvine.
Following the recession, the financial services, insurance, real estate and escrow industry underwent a massive employment and leasing activity pullback, whereas the healthcare industry stood untouched and continued to add jobs and office space.
Today the healthcare industry continues to make gains without any sign of slowing and the financial services sector is pointing toward momentum growth, the report states. Over the course of the next two years, Orange County expects 2.9 million square feet of additional tenant requirements with 29% of demand coming from the banking and finance sector and 20% of active tenants demand stemming from the healthcare industry.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
