Demand for Office Space Soars . . .

New jobs are being created so rapidly in Orange County that developers would have to build the equivalent of Newport Center annually for the next decade in order to keep pace with demand for office space, according to a new survey by The Seeley Co.

The study, part of a broader report on the Southland’s office needs, showed that Orange County’s construction of commercial buildings over the next decade will increase by a third.

Using conservative job growth estimates, the report found that 3.8 million square feet of office space alone is required in Orange County, most of it in buildings that are 30,000 square feet or larger. That amounts to all the office buildings ringing Fashion Island in Newport Beach, known as Newport Center.

In addition, the study found Orange County needs 10.8 million square feet of industrial, retail and smaller, low-rise office buildings over the same period. Most development would take place around Tustin, Irvine and the Airport Area, said Seeley real estate consultant Dennis Macheski, who prepared the study.

But in a county where raw land is costly and in short supply, developers will have to build in “higher density,” he said.

Office demand could be even higher if job growth exceeds 27,000 per year, as is expected this year.