OC Office Market Headed for a Record Year

Anthony DeLorenzo

Orange County is headed for a record-breaking year of office investment sales volumes. According to CBRE, Orange County office investment could hit $3 billion or $3.5 billion this year, a record number for a market that typically ranges from $2.5 billion to $3 billion. The first quarter of the year surpassed sales volumes in the first quarter of 2018 and several office assets are expected to come to market that will likely push sales volumes past the $3 billion mark this year.

“2019 is off to an encouraging start.  Between properties that have already sold and/or are in escrow we are on pace to surpass where Orange County was in Q1 of 2018,” Anthony DeLorenzo, EVP at CBRE, tells GlobeSt.com. “What’s more impressive is the amount of properties and scale of the assets that could be coming able for sale in 2019.  If projects and hold true Orange County could see more than $3 billion properties for sale in 2019. The real questions for Orange County isn’t about whether or not the product will be there, but rather who are the buyers going to be for this potentially historic level of trade volume.”