{"id":1004019249,"date":"2010-04-08T10:17:43","date_gmt":"2010-04-08T18:17:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004019249"},"modified":"2022-12-08T02:31:37","modified_gmt":"2022-12-08T10:31:37","slug":"voit-orange-county-office-market-shows-signs-of-stabilizing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/","title":{"rendered":"Voit: Orange County Office Market Shows Signs of Stabilizing"},"content":{"rendered":"<p>April 8, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004019250\" style=\"width: 160px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004019250\" data-attachment-id=\"1004019250\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/alex-e-proimos-two\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg\" data-orig-size=\"500,333\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Alex E. Proimos, two\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user Alex E. Proimos&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg\" alt=\"\" title=\"Alex E. Proimos, two\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-1004019250\" \/><\/a><p id=\"caption-attachment-1004019250\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user Alex E. Proimos<\/p><\/div>\n<p>In Orange County, Calif., an office market hard-hit by the recession and in particular the disappearance of real estate-related businesses, there are signs of revival. <\/p>\n<p>According to Voit Real Estate Services\u2019 first-quarter Orange County Office Market Report, the percentage of office space available was nearly flat with a 4 basis-point decrease from the previous quarter \u2013 a sign that the market may have reached bottom and is preparing to rise. The numbers may be deceiving \u2013 negative absorption for the county was 414,162 square feet this quarter \u2013 but are given perspective by the fact that negative absorption has averaged 75,000 square feet over the past five quarters. <\/p>\n<p>When discussing the report, Voit vice president of market research Jerry Holdner said that absorption is not expected to turn positive until job creation picks up. That may already be occurring; the unemployment rate in Orange County was 9.7 percent in February 2010, down from 10.2 percent the previous month.<\/p>\n<p>Vacancy was on the rise, but only slightly. It grew to 18.32 percent for the first quarter, an increase of just 37 basis points over the previous quarter. Voit attributes this increase to unleased sublease space being converted into direct vacant space. \u201cWe should expect more upward pressure on vacancy even though availability is showing signs of leveling off,\u201d Holdner noted in a statement.<\/p>\n<p>While full service gross lease rates decreased, falling five cents over the previous quarter to a monthly average of $2.12 per square foot, leasing activity showed signs of stabilizing. There were 1.9 million square feet leased over the first quarter, a slight decrease over last year\u2019s first-quarter total of 2.1 million square feet. However, Voit noted that sales activity has more than doubled since that time, coming in at 543,230 square feet as opposed to 201,805 square feet last year. The company attributed much of this to the lure of distressed assets, which is becoming an ever-common theme as investors reenter the market in search of high-value, low-cost acquisitions.<\/p>\n<p>Voit was founded in 1971 and has developed, acquired, or managed more than 40 million square feet of commercial real estate and transacted sales and leases valued in excess of $25 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In Orange County, Calif., an office market hard-hit by the recession and in particular the disappearance of real estate-related businesses, there are signs of revival. <\/p>\n","protected":false},"author":936,"featured_media":1004019250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21747,15],"tags":[],"class_list":["post-1004019249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Voit: Orange County Office Market Shows Signs of Stabilizing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Voit: Orange County Office Market Shows Signs of Stabilizing\" \/>\n<meta property=\"og:description\" content=\"In Orange County, Calif., an office market hard-hit by the recession and in particular the disappearance of real estate-related businesses, there are signs of revival.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-04-08T18:17:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T10:31:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/\",\"name\":\"Voit: Orange County Office Market Shows Signs of Stabilizing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg\",\"datePublished\":\"2010-04-08T18:17:43+00:00\",\"dateModified\":\"2022-12-08T10:31:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg\",\"width\":\"500\",\"height\":\"333\",\"caption\":\"Courtesy Flickr Creative Commons user Alex E. Proimos\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Voit: Orange County Office Market Shows Signs of Stabilizing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249\",\"name\":\"Allison Landa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"caption\":\"Allison Landa\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Voit: Orange County Office Market Shows Signs of Stabilizing - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/","og_locale":"en_US","og_type":"article","og_title":"Voit: Orange County Office Market Shows Signs of Stabilizing","og_description":"In Orange County, Calif., an office market hard-hit by the recession and in particular the disappearance of real estate-related businesses, there are signs of revival.","og_url":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2010-04-08T18:17:43+00:00","article_modified_time":"2022-12-08T10:31:37+00:00","og_image":[{"width":500,"height":333,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg","type":"image\/jpeg"}],"author":"Allison Landa","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/","url":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/","name":"Voit: Orange County Office Market Shows Signs of Stabilizing - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg","datePublished":"2010-04-08T18:17:43+00:00","dateModified":"2022-12-08T10:31:37+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg","width":"500","height":"333","caption":"Courtesy Flickr Creative Commons user Alex E. Proimos"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/voit-orange-county-office-market-shows-signs-of-stabilizing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Voit: Orange County Office Market Shows Signs of Stabilizing"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249","name":"Allison Landa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","caption":"Allison Landa"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/Alex-E.-Proimos-two.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004019249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/936"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004019249"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004019249\/revisions"}],"predecessor-version":[{"id":1004623275,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004019249\/revisions\/1004623275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004019250"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004019249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004019249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004019249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}