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ORANGE COUNTY INDUSTRIAL MARKET CONTINUES ITS SLIDE
The Orange County industrial market continued to weaken in Q3 as industrial users maintained their stance of giving back space due to decreased economic activity. As industrial users struggle with the economy, the demand for industrial real estate dwindles. As a result, the total vacancy rate increased 20 basis points over last quarter to 5.8% and the availability rate increased 10 basis points over last quarter to 11.3%.
Sales and leasing activity slightly declined over last quarter to 2.59 million SF. With vacancy rates increasing and average sales prices PSF decreasing from Q2, the Orange County industrial market is strongly feeling the economic pinch. As a result, Orange County is seeing some industrial users look at more affordable neighboring markets such as the Mid-Counties, San Gabriel Valley, or West Inland Empire while others shutter local operations or consolidate and relocate to smaller space.
Contact Jared Dienstag at 949.724.5515 for more information.
  INDOC09Q3.pdf
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