OC Industrial Spec Development Spikes
Industrial development in Orange County mushroomed to nearly 626k SF in completions in the fourth quarter, compared with 339k SF during Q3 14. At the end of the year, 266k SF of industrial was underway in the county. Notably, some of the largest projects now in the works are spec: a complete turnaround from only a few years ago. The largest OC projects underway at the end of the fourth quarter were Saturn/NASA Business Park-Bldg 2 (pictured), a 95k SF building with no pre-leasing, and 17332 Gothard St, a 94k SF facility that's also 0% pre-leased.