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Article: South County Seeing Negative Absorption, Warehouse Is Bright Spot
- Article from:
- Orange County Business Journal
- Article date:
- June 8, 2009
- Author:
CopyrightCopyright CBJ, L. P. Jun 8-Jun 14, 2009. Provided by ProQuest LLC. (Hide copyright information)
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The deep freeze brought on by the fall's economic crash has thawed slightly, although its chilling effect on deals still is being felt.
In general, South County's downturn was comparable to other areas' downturns in its increasing vacancy, decreasing rents and values, a lack of new construction and low leasing and sales activity.
The office, retail and research and development markets all felt considerable pain with negative absorption. Retail was hit the hardest with about 111,000 square feet of negative absorption.
The news wasn't all bad: the manufacturing and warehouse segment actually held strong this past quarter, continuing as the healthiest building segment with 72,544 square feet ...