The past few years, trends has been very unpredictable across several industries. Luckily, in Southern California, and in particular, Orange County, commercial construction trends are continuing to only improve every month. Alpha Omega Contractors is excited to report the good news of what we’ve been seeing with our clients to give you a better perspective on the industry and what it means for your business and your clients.
Commercial Property Values Continue to Increase in Orange County
There continues to be increasing demand in the commercial real estate market as seen by commercial business owners, investors, and tenants that is driving commercial property values up in the O.C.
This is seen in the continued growth of industrial space construction, as well as other commercial construction sectors as well as an increase in office space, retail, lodging, storage, and multi-family housing developments. And with that an increase in commercial leases.
The total value of Orange County commercial property sales, at $2.7 billion, is actually higher than the five-year average, according to a report in Aspect, regarding a report: Orange County Office Real Estate Trends to Watch Out For.
Experts attribute it to a “select number of high-value deals by institutional players.” It’s forecast that sales value will most likely remain higher than average over the next few years, “as the businesses actually able to pay in the current economic environment will inherently be larger and have greater needs,” per Aspect.
At Alpha Omega Contractors, we’re experts at commercial interior improvements, renovations, and remodels. Check out our portfolio and see what we can do to help increase your commercial property value.
Positive Commercial Office Space Buying Trends in Orange County
Adding to its industrial property portfolio in Orange County, Amazon, the e-commerce giant, has plans to add more than 2,500 corporate and technology jobs in three Southern California cities, including Irvine in Orange County, Los Angeles, and San Diego. Amazon plans to occupy 116,000 sq.-foot space at Spectrum Terrace later this year.
Owned by The Irvine Company, with the addition of this space it will add more than 800 new jobs in the city, according to BisNow. Amazon will reportedly occupy an entire building in the newly built collection of offices and amenity space.
See How AO Contractors Can Increase the Value of Your Next Commercial Project
With over four decades of collective experience in commercial construction, Alpha Omega Contractors thinks it’s important to share commercial construction trends in Orange County because it is helpful to our clients and your business. As your go-to commercial construction company in Southern California, our AO team helps bring your commercial projects to life with locations in both the Orange County and Los Angeles area.
Our experienced team of commercial contractors, designers, and design-build experts will collaborate with you from the initial stages of pre-construction through to putting the finishing touches on your next commercial project on time and within budget. For more information, contact us by filling out this form or calling us at (714) 616-0417.