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G. Ryan Smith Smith: “As the Orange County office market continues to diversify its tenant base, including a significant tech presence beginning to take hold, more investors are becoming interested in allocating capital here.”

IRVINE, CA—As Orange County office properties have been redeveloped with desirable amenities and stabilized, owners have been taking advantage of a robust capital-markets environment to sell, JLL EVP G. Ryan Smith tells GlobeSt.com. According to a recent report from the firm, class-A office investment sales volume set a new market record, totaling $1.88 billion in 2017, passing the previous high of $1.78 billion in 2015.

The report also revealed that new developments have significantly boosted market average rents to $2.87 per square foot per month, and nearly 1 million square feet of office space is set to deliver in 2018.

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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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