The second quarter of 2007 saw the Orange County office market vacancy rate increase to 8.4%, up from the previous quarter which posted at 7.6%. The increase can be attributed to the negative absorption of 227,726 sf and the 48 buildings that were delivered this quarter totaling 949,519 square feet. Construction totaling 4,163,313 sf is scheduled for delivery throughout 2007 and into 2008. This statistic has raised some question as to how future deliveries of space will affect demand and pricing.

Although these statistics reflect a slight shift in the Orange County office market, rental rates increased by 1.5% from $31.10 at the end of Q1 2007 to $31.58 at the end of Q2 2007.

CresaPartners is a leading international corporate real estate advisory firm that specializes in tenant representation. We provide integrated services—including strategic planning, project management, portfolio management, and capital market expertise—through more than 125 offices in 35 countries, including 47 locations in North America. By exclusively representing tenants, we avoid conflicts of interest and ensure accountability. As a result, we have received the distinguished Site Selection/William Dorsey Service Provider Award for the last five years.