IRVINE, CA—Being creative about space use will be the name of the game in all of Orange County's property sectors next year as space continues to tighten, Allen Matkins partner Drew Emmel tells GlobeSt.com exclusively. We sat down with Emmel to discuss what his firm will be focusing on next year and some of the most significant changes the Orange County commercial real estate market will see in 2015.
GlobeSt.com: What do you feel will be the most significant changes the Orange County commercial real estate industry will see in 2015?
Emmel: 2015 will be the year that's all about location and availability. Some of the markets are tightening, especially the industrial market around the airport, with limited availability. If you are an industrial developer or need an industrial building, it will be tougher to find land. In the retail sector, the Orange County market is going to be strong, but that will be about location. You will need development in the right location, notwithstanding the pressure of online shopping we're hearing. Clients are demonstrating that if you can find a location for retail use and match that location to the proper use, a retailer can have a successful store and the developer a successful project.
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