Good Properties Hard to Find in OC
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CBRE senior managing director Kurt Strasmann still believes what he told us last spring about the OC office and industrial markets: they were tight in 2014, and that's not going to change this year, he says in an interview with GlobeSt. That’s going to drive up rents in office and industrial properties, adding to the challenge of finding industrial space, since OC has the second-lowest industrial vacancy rate in the country (2.7% in Q3, according to CBRE). And there won’t be much development, since multifamily developers tend to win when it comes to taking usable sites.