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California  + Retail  | 

CBRE Reports Overall Positive Outlook for OC Retail

Have you signed up to attend Connect Orange County? Here’s where to register for the event slated for July 28th.

CBRE research reveals that strong employment and low vacancy helped drive Orange County’s retail sector in Q2 2016. The market has continued its steady and gradual pace over the last few quarters, retaining stability with secure fundamentals and an overall positive outlook. Orange County’s vacancy rate is projected to remain within the 3 percent range over the next 12 months, with steady demand and leasing activity projected to continue, according to CBRE EA.

Q2 Highlights include:

HOUR GLASS ECONOMY: Shifting demographics nationally are reflected in the Orange County retail market. Primarily, the middle class is shrinking, while the upper middle and lower income sectors are expanding. That’s reduced demand for retailers. The market is continuing to see middle-tiered box tenants depart as a result of over saturation and weak sales. Discount and luxury sector tenants continue to thrive. That is evident by success across a spectrum of categories from restaurants to athletic apparel and grocers.

VACANCY COMPRESSION: Job growth, geographic appeal, and new space delivered into the market have helped drive the region. Although changes in vacancy have remained gradual over the last 4 years, retail vacancy has continued to trend in a downward trajectory, decreasing in rate as space continues to be leased. Vacancy is anticipated to decrease further throughout the year due to grocery box vacancies filling and new pre-leased space delivered into the market.

PROPOSED DEVELOPMENT: Development activity has been modest for Orange County’s retail market. Developers have been cautiously optimistic about the region’s future health and have proceeded carefully moving forward on projects. Orange County currently has 1.8 million square feet of retail space in the proposed development pipeline. Growing populations and strengthening incomes have created demand for additional retail in Orange County with emphasis on projects that specifically create an experience, while offering a service.

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Inside The Story

Read More at CBRE OC Retail MarketViewConnect with CBRE’s Petra Durnin

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Lease
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