7/13/2021 04:54:00 PM
Voit Real Estate Services released their Q2 reports on Commercial Real Estate (CRE) in SoCal. Here are a few excerpts from the Orange County Office report:
"The Orange County office market struggled again in 2Q. It had already been slowing before the pandemic hit, and by virtue of the higher employee density and multi-tenant configuration of office product, the office sector was hit harder by COVID than other sectors.
Vacancy and availability both moved higher, and net absorption remained in negative territory. Average asking lease rates were relatively flat, but they alone do not tell the full story, as