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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.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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