Large Blocks of Office Scarce
OC office space might be more in demand, but Studley corporate managing director Michael Props tells us that if tenants are looking for large blocks(100k-plus SF), the search will be tough--but not impossible. As tenants took advantage of flight to quality opportunities, weve seen a decline in large blocks of Class-A space and so some upward pressure on pricing, he says. Expect more of the samethrough year end.
Michael, with colleagues Royce Sharf and Brad Schmitt in Studleys OC office, recently repped Kondaur Capital Corp in a relo to 29k SF at 333 S Anita Dr in Orange. The move was an example of in-county relocation, which is also helping to drive lease volume. Michael says that Kondaur not only achieved new efficiencies in the space, it did so without too much disruption to employees lives. Cushman & Wakefields Greg Brown and David Dowd repped the landlord.
People who live in glass houses should get some insurance. Send ideas and suggestions to dees.stribling@bisnow.com.
