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).
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.