Growing attention from retailers looking to expand in Orange County, coupled with a looming consolidation and redevelopment of retail real estate, in particular large shopping centers, has sent the sector’s vacancy rate to near historic lows.
Newport Beach-based KBS Realty Advisors has seen firsthand how social and economic issues, along with changing post-pandemic workplace trends, have negatively impacted building valuations in three of the West Coast’s most troubled downtown office markets.
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Inland Empire real estate firm is looking to take advantage of the slowed office market in Orange County after going big for its first local acquisition, paying $92.5 million for Costa Mesa’s Canvas office campus.