Newsletter Article Content
Market Reports Are Out
Orange County's office market demonstrates balanced growth with 14 new Class A buildings adding 2.7 million square feet of inventory. The market shows "modest positive absorption in North and Central county" and continued strength in Airport, Spectrum, and South County areas. Detailed office and industrial market reports are available, along with rankings of the county's top 20 properties in each sector.
Industrial Market Conditions
The industrial sector faces rising rental rates despite easing demand. Small and medium-sized private companies are experiencing significant overhead increases, creating challenging decisions around lease renewal and expansion.
2020 Tax Law Changes
New tax accounting requirements take effect next year, mandating that companies record office and industrial leases on their balance sheets. Companies are responding with different strategies—some pursuing shorter lease terms, others considering property ownership, while many maintain current arrangements given moving costs and business continuity concerns.
Building Better Leases Initiative
The author is developing a comprehensive guide analyzing 50 lease components with weekly narrative explanations of key clauses. An early draft is available, with the full guide available upon request. The initiative emphasizes that "knowing exactly what is in your lease" represents one of the most critical aspects of real estate management.
Contact: jbsmith@leeirvine.com or 949-790-3151