OC Companies Look For Expansion
When evaluating potential variables within the commercial real estate market, ORION Property Partners understands the overlaying effects of other professional industries and how those waves of performance roll over into the Orange County market; understanding the causes and effects within the industry is critical for long term success.
Currently in today’s economy, areas of technology, medical, and lending are performing well. With estimations in all the areas continuing to increase, these industries are looking to expand and with company expansion, comes the need for a larger office space lease.
Approximately 12 to 20 large tenants within Orange County currently holding 100,000 square feet or higher in office space leases are out-and-about looking for larger commercial space and considering larger office space for lease is often more difficult to find in the OC, these companies are wanting to acquire the office space soon.
According to details noted by the Orange County Business Journal (OCBJ), talks of such companies on the move are the mega brands such as Broadcom Corp., Blizzard Entertainment Inc, Masimo Corp., Google, AT&T Inc., and more.
Also noted within the same article stated an interesting reflection regarding company expansions stating, 2012’s potential prospects for large office space leases come from a lively 2011 where nine office leases signed excess over 100,000 square feet; this interesting notation steams from the fact that according to brokerage reports and Business Journal data, four of the nine major deals in 2011 were due to company relocations.
In a market with so many moving pieces, from small intimate office space for lease to large corporation relocations, ORION and its’ team of commercial real estate brokers contain the ability in both knowledge and experience that allows market forecasting with pristine information. Together, this ability, illustrates the power brokerage to be one of the leading commercial real estate brokerage throughout Orange County; bringing the best of the best together in deals, responsible and financially sound transactions, smart investments, and lasting client-tenant relationships. With ORION, the need of you and your company is without hesitation.
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