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Commercial Real Estate INSIGHTS

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Find the information you need to make informed commercial real estate decisions with up-to-date insights and the latest commercial real estate news. Our Coldwell Banker Commercial brokerage professionals provide invaluable, game-changing advice for businesses, identify real estate opportunities that others might overlook and offer creative solutions and sound business sense in an ever-changing environment. For more information, contact one of our specialists today.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Land Sales Trends

Insights: Land Sales Trends

The U.S. economy entered a recession in February, 2020, per the National Bureau of Economic Research. Commercial real estate development typically slows during a recession because developers do not want to incur the holding costs of land parcels if there is not an expected demand for new product.

Insights: Student Housing 2020

Insights: Student Housing 2020

The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Landlord Employer Liability

Insights: Landlord Employer Liability

The ongoing coronavirus pandemic raises the question of whether landlords with leased properties can be held liable for injuries sustained when someone contracts COVID-19 at the premises.

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

Regional Summaries

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Orange County

Apartment
The Orange County apartment market vacancy rate, below 3.0% for a while, has been creeping slowly upward. By the middle of 2018, it had reached 4.0%. A year later it was 4.2% and was up 10 basis points from a quarter earlier. At $1,968 and $1,898 per month, second quarter 2019 asking and effective averages were up 1.4% apiece year-to-date. Increases for the second quarter alone were 0.7% each.
Industrial
Vacancy in Orange County's warehouse/distribution market ended the second quarter of 2019 at 7.4%, up 40 basis points for the period and up 80 year-to-date. Vacancy increased by 40 basis points all told in 2018. Reis put second quarter 2019 average asking and effective rates for warehouse/distribution space at $7.55 psf and $7.11 psf, up 1.1% and 0.7% year-to-date-following increases of 2.2% and 2.6% all told last year. Gains in the second quarter alone were 0.3% asking and unchanged effective. Second quarter vacancy in Orange County's 59.8-million-square-foot Flex/R&D sector, was just 4.3%, up 10 basis points year-to-date following a 10-basis-points loss in 2018. Reis put second quarter Flex/R&D asking and effective rents here at $12.05 psf and $11.28 psf, up 1.3% apiece for the first half of the year following gains of 2.1% each in 2018. Gains in the second quarter alone were 0.7% asking and effective.
Office
Sitting nearly motionless at about 15.5% since early 2016, the Orange County general purpose, multi-tenant office market vacancy rate began a gradual ascent late last year. By mid-year 2019 it had reached 16.4%, up 50 basis points since year-end 2018 and the highest rate on Reis's records for this market since 2014. At $34.49 psf and $25.94 psf, asking and effective averages in the second quarter were up 1.1% and 1.0% year-to-date following gains of 4.0% apiece all told in 2018. Gains for the second quarter alone were 0.3% for both averages.
Retail
Vacancy in the Orange County community-neighborhood shopping center market has run in the range of 5.0% to 5.5%, roundly stated, since 2012. The vacancy rate for the second quarter of 2019, second-lowest among the nation's top 50 markets after San Francisco's 3.6%, was 5.1%, same as each of the past two quarters, and same as year-end 2017 as well. Average asking and effective lease rates for community and neighborhood center space grew by only 1.2% each overall last year. At $34.24 psf and $30.31 psf, respective asking and effective averages in the second quarter were up 0.5% and 0.6% year-to-date. Second quarter gains alone were 0.2% asking and 0.3% effective.

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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