Creative Redevelopment Presents Challenges

IRVINE, CA—Office owners need to find successful ways to meet the demand for creative space in Orange County when redevelopment is the only option and the raw materials don’t always pencil, say executives preparing to speak at RealShare Orange County at the Hotel Irvine on August 21. (Early-bird discounts for the conference are available until Friday, July 25, so click here for more information.)

Joe Bevan, CCIM, EVP of JLL, tells GlobeSt.com, “The occupier space pendulum continues to swing toward a more open and collaborative environment. Even more-traditional occupiers want to be ‘corporate creative’ to retain current talent and attract new. The solve for office-building owners in Orange County is how to meet this demand by converting product that is not old enough to be cool (i.e., SOMA) and not new enough to configure open space smartly. Owners who have figured it out have lower vacancy with higher rent.”