Is There Room for Large OC Industrial Builds?

Carey: “The scale of the Dyer and Beckman projects is unique, and most opportunities for development will likely be found on two- to five-acre sites, which are more common in Orange County.”

IRVINE, CA—Projects like Dyer Road and Beckman Business Center are rare, but they are good examples of investors finding creative ways to redevelop or renovate older and functionally obsolete industrial buildings, JLL EVP Nick Carey tells GlobeSt.com. According to the firm’s Q3 industrial report, a 495,000-square-foot multi-building development planned at Dyer Road and Tech Center Drive. in Santa Ana, CA, will be the largest industrial development in the Airport Area so far this century.

The report also revealed that the West and North County submarkets recorded Q3 positive net absorption of 514,498 and 438,972 square feet respectively and that investors are now willing to pay more than owner-occupiers, which historically has not been the case.