October 22, 1998
Pimco Advisors Holdings LP said it plans to hire 60 new employees by the end of the year and will lease 74,000 square feet of additional office space to handle the company's burgeoning mutual fund business. The Newport Beach-based fund manager said it signed an agreement with the Irvine Co. to lease one building and part of another building under construction at Newport Center. The buildings are part of a four-building expansion of the Corporate Plaza office complex.
July 11, 1991 |
Now is the time to sign a lease for office space, according to a study released Wednesday by a local accounting firm. The report by Ernst & Young's real estate services group in Costa Mesa predicts that the current glut of office space in Orange County will ease during the next 18 months as virtually no new construction is planned. The recession has dried up most financing for real estate development.
November 12, 1987 |
Despite the addition of half a million square feet of office space on the Westside, the vacancy rate in the third quarter of 1987 remained at 12%, the lowest of any market in Southern California. According to a recent survey by Grubb & Ellis Commercial Brokerage Services, about 4.1 million square feet of office space remained vacant out of a total of 35.4 million.
August 10, 1986
Fueled by a supply of new office space, the vacancy rate in the western part of the Inland Empire increased from 25% in the first quarter of this year to 30% at the end of the second quarter. A survey of 31 buildings totaling 1.7 million square feet in Chino, Fontana, Montclair, Ontario, Rancho Cucamonga and Upland by the Ontario office of Grubb & Ellis Commercial Brokerage Services revealed that vacant space totaled 513,228 square feet.
July 28, 1998 |
Now that Orange County's office market is bouncing back, the number of projects going up without a particular occupant in mind is rising. There are at least six such campus-style developments on the drawing boards, perhaps more than at any time this decade, sprouting in places like Foothill Ranch and Aliso Viejo, said Paul Thometz, vice president of HOK Architects in Newport Beach. The market has been slow to absorb office space created during the last boom in the late 1980s.
January 28, 1994 |
The federal government signed a three-year lease Thursday for office space for special counsel Robert B. Fiske Jr., who will investigate President and Mrs. Clinton's dealings with a real estate developer and savings and loan owner. The 6,491 square feet of office space leased for Fiske and his staff in an office building in west Little Rock is on the same floor as the local FBI office.
June 1, 1986
Absorption of commercial office space in the San Fernando Valley increased to 276,000 square feet during the first quarter of this year, but the vacancy rate rose a point to 20%, according to a survey by Grubb & Ellis Co. The study showed absorption rising almost 62,000 square feet from the fourth-quarter total, and suggested that although the vacancy rate increased slightly, it will decline through the balance of the year due to continued high absorption and fewer new buildings coming on line.
March 4, 1986 |
It is still a buyer's market for office space in San Diego County, as office vacancy rates jumped to 27.3% for the first six months of 1985, up from 21.3% at year-end 1984, according to a San Diego Chamber of Commerce survey. Empty office space in the county totaled 6.2 million square feet as of June 30, the most recent figures available, according to the Chamber's Economic Research Bureau.
April 13, 1988 |
Orange County tenants wanted less office space during the first three months of this year than during 1987's record-setting first quarter, but demand remained strong nonetheless. To meet it, developers are planning or already building 16 million square feet of office space in the county, according to a survey released Tuesday by Grubb & Ellis Co., a real estate broker. That is on top of 39 million square feet already in place.
June 1, 1986 |
It looks as if office space will still be up for grabs this year in California's metropolitan areas. The total combined-cities vacancy rate last December was 18%, according to estimates of the UC Berkeley's Center for Real Estate and Urban Economics. The highest office vacancy figure shown was for San Diego, 25%, and the lowest of the metro areas was San Francisco, 12%.