Your Office, Move, Stay, Lease, Buy?
A large expense of a business is office space. Southern California has always been a very popular real-estate market, commercial and residential. Let’s discuss a specific sector in Southern California; Orange County.
Orange County commercial inventories remain tight, to the extent of “what I want, where I want it”. Overall, industrial inventories remain limited, office and retail inventories are more available. In the office and retail sectors, specialty properties, such as medical and automotive related generally are less available. Restaurant space appears to continue to be available, but it comes with some limitations to location and available size.
New to market listings continue to arrive, but realistic pricing is the factor right now. Price it at any amount and it will sell is not the case today. Well maintained properties in good locations, as always, command some premium. Shopworn properties with deferred maintenance, not so much.
Outlook is strong and the market continues to move forward, but there is a feeling that some change is occurring. Nothing truly negative, but not the market of last year.
Coldwell Banker Commercial NRT
Winston R. Covington
Coldwell Banker Real Estate
Realtor – U.S. Army Veteran
Proudly Serving All of Orange County
And the Surrounding Communities Since 1978
DRE # 00645114