Area Firms Are In a Space Race
The space race appears to be heating up for industrial and high-technology companies in Orange County. First-quarter absorption of industrial space in the county totaled 4.1 million square feet, 20% higher than 1988’s average quarterly absorption of 3.4 million square feet, according to Coldwell Banker.
Of the total space absorbed, 64% was leased and the remainder was sold. Absorption represents the net increase in space leased or sold.
Irvine led county cities with almost 1 million square feet absorbed, and Anaheim was second with 840,083.
Coldwell Banker said there was about 16 million square feet available in the first quarter, and 3.8 million under construction. The total of almost 20 million represents a 4% increase over the 1988 fourth quarter, while space under construction increased 34% from the previous quarter.
Irvine also led in space under construction with 1.3 million square feet, all in the Irvine Spectrum development.
SURVEY OF INDUSTRIAL SPACE BY CITY--FIRST QUARTER 1989
In thousands of square feet
SPACE LEASED City R&D; Manufacturing Total Anaheim 153,036 293,970 447,006 Brea 0 45,439 45,439 Buena Park 0 27,856 27,856 Costa Mesa 118,257 82,543 200,800 El Toro 0 0 0 Fountain Valley 0 30,208 30,208 Fullerton 0 11,917 11,917 Garden Grove 0 21,705 21,705 Huntington Beach 11,332 45,909 57,241 Irvine 344,606 361,816 706,422 La Habra 96,000 33,270 129,270 Laguna Hills 12,800 12,025 24,825 Orange 0 176,057 176,057 Placentia 60,000 82,903 142,903 San Clemente 0 0 0 San Juan Capistrano 50,000 24,866 74,866 Santa Ana 65,168 173,034 238,202 Santa Margarita 0 10,340 10,340 Tustin 23,400 88,712 112,112 Westminster 0 0 0 Yorba Linda 150,234 33,723 183,957 Total 1,084,833 1,556,293 2,641,126
SPACE SOLD TOTAL City R&D; Manufacturing Total Leased/Sold Anaheim 26,000 367,077 393,077 840,083 Brea 30,544 36,503 67,047 112,486 Buena Park 0 77,625 77,625 105,481 Costa Mesa 12,100 0 12,100 212,900 El Toro 0 21,639 21,639 21,639 Fountain Valley 215,000 0 215,000 245,208 Fullerton 0 32,400 32,400 44,317 Garden Grove 0 63,740 63,740 85,445 Huntington Beach 0 11,165 11,165 68,406 Irvine 269,685 20,000 289,685 996,107 La Habra 0 11,250 11,250 140,520 Laguna Hills 0 0 0 24,825 Orange 0 38,588 38,588 214,645 Placentia 0 13,399 13,399 156,302 San Clemente 0 10,914 10,914 10,914 San Juan Capistrano 0 0 0 74,866 Santa Ana 0 12,000 12,000 250,202 Santa Margarita 12,916 0 12,916 23,256 Tustin 111,072 43,406 154,478 266,590 Westminster 13,000 0 13,000 13,000 Yorba Linda 0 0 0 183,957 Total 690,317 759,706 1,450,023 4,091,149
Source: Coldwell Banker
