Three quarters of 2022 saw lowered vacancy and increased asking rent for industrial listings compared to previous quarters. With an average vacancy of less than 2% and an average monthly rent of $1.45/SF, Orange County’s industrial market remains among the most competitive commercial markets compared to Los Angeles and the Inland Empire (CoStar).
Aspect Real Estate Partners prides itself on helping clients develop and expand their small business by locating a space to help them find success. Our clients, Malaia and Jaebin from Malaia’s Microgreens, were able to find their success from humble beginnings. With Aspect’s expertise and perseverance, they were able to expand their farm into a 1,500SF warehouse in Irvine’s Airport Business Area.
For tenants seeking office space, it is important to distinguish between common terms used to determine square footage. You’ll often come across different terms describing the square footage, such as gross square footage, usable square footage, or rentable square footage.
Transitioning your business into a new space is often a difficult endeavor, from finding the right space, to negotiating lease terms; however, finding the right broker to represent you proves a much easier feat. The right broker can help you save time and money in searching for the ideal property for your business.
When seeking the right space to house your business, location, property type, and price per square foot are among the most important factors to consider. While these factors are critical in ensuring a successful business, it is equally as important to examine whether you should lease or buy your own commercial real estate space.
The Russian invasion of Ukraine sent shockwaves across the world and propelled markets into deep uncertainty. The conflict is ongoing with no end in sight yet. The visceral international reaction toward the invasion and the subsequent imposition of sanctions have made the situation even more volatile.
Finding the right office space can be a challenge for any business, and with the uncertainty created by two years in a pandemic, it requires more consideration than ever. Any conversation about commercial real estate will start with the size (square footage) of the space you want to rent. This makes it easy for you and for your broker to narrow down potential properties and determine which one fits best.
Most commercial spaces require some amount of renovation before a new tenant can move in. Commercial leases for office, retail , and industrial spaces often include provisions for the landlord to help pay for improvements prior to the tenant moving in.
With California recovering from the pandemic the office space market in Orange County is slowly returning to normalcy. In this piece, we’ll be taking a look at some of the key trends we expect to observe in the office space market over the next few months. It’s important to note here that, given the current global turmoil, we might see the situation change considerably - we’ll be exploring those possibilities, too.