X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Occupier needs in both office and industrial are growing in Orange County. Following its growing clients, occupier-service company Cresa has opened a new office in Orange County with Mark Bennett at the helm. Bennett, who will serve as managing director, says that the Orange County region has grown from a small tenant market into an established market that is home to several company headquarters, and it is a place where Cresa needs to be to service those clients.

“Traditionally, Orange County was a relatively small tenant market. Your average space occupier was 3,000 to 3,500 square feet,” Bennett tells GlobeSt.com. “That has clearly changed. Cresa has multiple transactions this year and in 2019 that will exceed 100,000 square feet in Orange County. We are a building market.”

Cresa CEO Jim Underhill underscores the importance of the Orange County market, which Cresa could once serve from its established Los Angeles hub. The recent growth, however, has required a local presence. “We handle a significant amount of business for corporations and organizations that have locations all over the world,” Underhill tells GlobeSt.com. “Orange County is an important market for them in terms of locating offices, and therefore, it is an important market for us. Even without having an office there, we have had significant activity in that marketplace. We have a powerhouse office in L.A., but you can’t service Orange County from Los Angeles, at least not efficiently. It is really client demand that has driven us there, and it is a market that we are very excited to be growing in.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

 

GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.