High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Orange County  + Office  | 

Flexible Space Drives Office Market

A diversifying tenant mix in Orange County is continued to be fueled by the emergence of flexible office space options. Executive suites and co-working operators now play a key role in driving significant changes, according to JLL’s Q3 2017 office market report.

The report notes there are more than 50 flexible office locations totaling roughly one million square feet, half of which is located in the Airport area.

Other market highlights include:

  • Sales volume has accelerated, so too has pricing. In 2016, volume totaled $1.7 billion, compared to a year-to-date total of $1.9 billion.
  • Average sales price has climbed 12.9% to $280-per-square-foot, with the number of transactions of at least $350-per-square-foot doubling from four to eight.
  • New development activity continues to shape the local office market noticeably. Of the Class A buildings already completed in 2017, as well as those currently under construction, only one consists of more than 10 stories, compared to six properties delivered in 2007 and 2008.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With JLL’s Jared Dienstag

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.

New call-to-action
New call-to-action
New call-to-action