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California  + Office  | 
Cash flow for certain property types have yet to stabilize, said CREFC chair Eric Thompson

Kidder Mathews Reports Continued Improvement in OC Office Market

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Kidder Mathews’ Q2 2016 Orange County office report reveals that the market continued to improve, posting just more than 131,000 square feet of positive net absorption for the quarter. This marked the ninth consecutive quarter of positive net absorption, and the twelfth consecutive quarter of rising lease rates.

The average asking full-service gross lease rate finished the second quarter at $2.32, an increase of sixteen cents or 7.41% from 2015’s Q2 average asking rate.

Kidder Mathews’ Jerry Holdner says one notable trend is the increase in construction. “The rise in lease rates demonstrates that the market continues to improve and supports the new construction we are seeing in the southern part of the county.”

Total space under construction came in at just over 2.4 million square feet. Construction is expected to increase in the coming quarters, as typically the cranes come out when vacancy dips below 12%. Currently, vacancy is 10.4%.

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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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