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ORANGE COUNTY INDUSTRIAL VACANCY JUMPS TO 5-YEAR HIGH AS RECESSION TAKES ITS TOLL
Industrial market fundamentals in Orange County have continued to deteriorate in Q2 as industrial users either consolidated space, moved to neighboring markets, or went out of business. Like other industrial markets throughout the Los Angeles Basin, the Orange County industrial market is only now seeing sharp rises in both vacancy and availability levels due to the downturns in both the trade and manufacturing sectors. The total vacancy rate jumped to a five-year high of 5.6% and the availability rate jumped to 11.2%.
Sales and leasing activity increased over last quarter but remained at a relatively low level with only 2.6 million SF. With both average asking rental rates and average sales prices PSF continuing to decrease from the previous quarter, the Orange County industrial market appears to be feeling the
full force of the economic downturn. As a result, the first 6 months of 2009 have seen approximately 2.3 million SF of industrial space returned to the market vacant.
Contact Michael Soto at 213.532.3220 for more information.
  INDOC09Q2.pdf
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