LEE & ASSOCIATES – NEWPORT BEACH COMPLETES AN 8-YEAR INDUSTRIAL LEASE FOR 41,400 SF IN HUNTINGTON BEACH Upon completion, 14382 Astronautics Lane in Huntington Beach was leased to Newlight Technologies by Burke Real Estate Group. This 41,400 square foot Corporate Headquarters/Industrial Building was leased for eight years. In their new facility, Newlight Technologies will be converting greenhouse gas into thermoplastics. The building has 7,111 square feet of office/research and development related to their use. The…
4Q 2016 Office Market Report
OC Office Market Remains Healthy, But Rent Growth Cools Orange County office demand in 2016 generally remained healthy despite weakened rent growth. The year-end vacancy rate settled at 10.3%. The most activity was in the South County submarket, which saw 649,457 sq. ft. of space come off the market in 2016 along with the completion of four buildings totaling 575,000 sq. ft. In the large Airport submarket, which accounts for 38% of the county’s inventory…
4Q 2016 Industrial Market Report
Industrial Demand Shrugs Off Election-Year Uncertainty Despite a greater than expected drop in leasing activity in the fourth quarter of 2016, demand for space remained strong enough to drive down the industrial vacancy rate deeper into record territory in each of the county’s four submarkets. The last three-month period of 2016 closed with 631,549 sq. ft. of positive net absorption, pushing down the countywide vacancy rate to 2.4%. When added to the 701,391 sq. ft….