"The bottom is nearing—hopefully. It looks like the worst haspassed, " says Michael Gold, a regional analyst for Colliers.
The report shows 1.3 million sf of negative net absorption forthe year, however 1.1 million sf of that came in Q1, with 229,000of negative absorption in Q2, Gold points out. In the second halfof 2007, Orange County experienced 1.5 million sf of negative netabsorption. "This quarter we're still negative, but it's not nearlyas bad as what we've been seeing in the past year," Gold adds.
The airport submarket was the only area in Orange County thatrecorded positive absorption, but it was up only slightly, whilethe central area—Santa Anna, Anaheim and Orange—had the mostnegative absorption, at 350k sf.
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