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How CA Office Markets Are Positioned for What Lies Ahead

SAN DIEGO—In part 1 of a two-part feature, GlobeSt.com speaks to JLL office experts in four California markets to find out how well office supply is being controlled in each market.

Bess Wakeman Wakeman: “During the most recent downturn, we saw a ‘flight to quality,’ whereby tenants were willing to relocate because they could upgrade their address and, in many cases, pay less than what they were currently paying. Now, we are starting to see a ‘flight to value.’”

SAN DIEGO—California markets are dealing with many of the same issues in regard to their office sectors, including a preference for collaborative space, urban environments and lots of amenities, but are they each prepared for the future of this sector? GlobeSt.com spoke with JLL office experts in four California markets—Bess Wakeman, EVP in San Diego; Jeff Ingham, senior managing director in Orange County; Josh Wrobel, managing director in Los Angeles; and Wes Powell, international director in San Francisco—to find out how well office supply is being controlled in each market. Stay tuned for part 2, which discusses what the pipeline looks like for development in each of the four markets.

GlobeSt.com: How is your market positioned for what lies ahead in the San Diego office sector?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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