SAN JUAN CAPISTRANO, CA-The Regional Center of Orange County recently inked a lease for 8,007 sf in San Juan Capistrano.
The five-year deal will allow the social services organization to relocate its South Orange County branch office to 26311 Junipero Serra. The transaction is valued at $1.2 million.
Rick Sherburne, Travis Boyd and Alex Hayden of CB Richard Ellis’ Corporate Services Group represented the Regional Center of Orange County. The organization provides services to the disabled community through its social workers and case aids.
The San Juan Capistrano office sector experienced a positive net absorption of 12,655 sf during the first nine months of 2001. The region’s overall vacancy rate stood at 25.7% at the start of the fourth quarter, with a sublet vacancy rate of 0.7%, according to research by Cushman & Wakefield. The overall average weighted rental rate for office property in the area stood at $2.26 at the close of the third quarter, according to the Cushman & Wakefield statistics.