IRVINE, CA—Orange County has posted 247,895 SF of positive net absorption, marking the 4th straight quarter of net gains in occupancy. This according to The Newmark Grubb Knight Frank office Market Report for third quarter 2015, which was shared exclusively with GlobeSt, ahead ofits broader distribution.
· The market had positive net absorption in 18 of the last 21 quarters—mostly in the Anaheim-Santa Ana-Irvine areas.
· Rental rates ascended to new highs, with some rents surpassing $5.00/SF level.
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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.
