Why Developers are Emphasizing Outdoor Office Space

Ingham: “In other parts of the country, there are months of the year where people can’t use outdoor space, but here we can use it pretty much 365 days a year.”

IRVINE, CA—Drivers of outdoor office amenities, particularly in Orange County, range from clement weather most of the year to open floor plans and technology itself, JLL senior managing director Jeff Ingham tells GlobeSt.com. All of these drivers enable amenities that make Orange County office assets even more appealing to tenants and investors.

The market is especially strong. According to the firm’s Q3 office report, sales volume has picked up, and so has pricing. In 2016, volume totaled $1.7 billion, compared to a year-to-date total of $1.9 billion. Average sales price has climbed 12.9% to $280 per square foot, with the number of transactions of at least $350 per square foot doubling from four to eight.