New Multi-Tenant Industrial Among the Most In-Demand in OC

Multi-tenant industrial properties have been among the most in-demand in Orange County. There is a limited supply of new, modern multi-tenant properties, and available product has become a hot commodity. Recent leasing activity at Los Patrones Business Park in Orange County is a prime example. The nearly 100,000-square-foot property secured 11 new leases in 2020, bringing the property to 50% occupancy.

“There is still strong demand for new multi-tenant industrial properties in the Orange County market. Much of the stock is older and does not meet tenants’ standards for this space, which is why Los Patrones Business Park has been so popular,” Sam Olmstead, VP and Partner at Voit Real Estate Services, which handled the leasing on behalf of the landlord, tells GlobeSt.com.