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The Causes of OC’s Record-Setting Office Sales

Capital flows into Orange County office product have increased in 2017, with new investors coming into the local market on a consistent basis throughout this past year, JLL’s G. Ryan Smith tells GlobeSt.com.

Ryan Smith Smith: “I would anticipate that the volume levels for 2018 will be similar to what we have seen this year.”

IRVINE, CA—Capital flows into Orange County office product have increased in 2017, with new investors coming into the local market on a consistent basis throughout this past year, JLL EVP G. Ryan Smith tells GlobeSt.com. As we recently reported, according to a report from the firm, based on properties 50,000 square feet and greater, Orange County office-sales activity in 2017 has set new records based on the first three quarters of a year.

The report reveals that from Q1 through Q3, total sales volume of $1.9 billion broke the previous record set in 2015 of $1.7 billion. Additionally, the 2017 average price per square foot of $286 shattered the 2008 price point of $282.

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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