IRVINE, CA—Tenant demand for Orange County office space is booming, and developers are doing everything they can to meet demand as quickly as possible. According to JLL, with tenants seeking new amenities from office space, developers have been active in repositioning properties to keep up with demand. Recently completed projects include Gen2, Avalon, Radius and 2860 Michelle Dr., which combine for 242,500 square feet. Also, developers are drawn to reposition properties because costs are lower and length of construction time is shorter than ground-up development. The buildings currently being repositioned total 840,000 square feet.
We spoke exclusively with JLL's EVP Joe Bevan about the race to complete office properties in this market and how office-construction timelines are changing.
GlobeSt.com: Why is there a race to get office properties developed in Orange County?
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
