Small Users Driving Office Improvement

ORANGE COUNTY, CA—Small-office users are driving a significant share of the office-sector improvement in Orange County, according to a report from Marcus & Millichap. The trend is a welcome sign after mostly large firms had the wherewithal to take down space in the preceding two years.

M&M says the average lease signed in the first half of the year was approximately 3,200 square feet, down from 3,600 square feet in the second half of 2013. Average lease footprints have declined steadily since 2011, an indication that small-space users are growing more confident in the economic recovery. GlobeSt.com was unable to reach M&M before deadline to discuss specifics or any similarities among these small-office users.