Lee & Associates Commercial Real Estate Services, Inc.
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Jaimeson Hearne of the Lee & Associates – Orange office, successfully negotiated a sublease on the 2,014 square feet in Palm Court West located at 15635 Alton Pky, Suite 475 in Central Orange County.
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Marshal Vogt, Erik Thompson, and Jaimeson Hearne of the Lee & Associates – Orange office, successfully negotiated and closed a 63 month lease on a 1,387 square foot office space. All three represented the landlord, Prospect Seventeen Plaza, and Erik represented the tenant, the Law Office of Justine Dell.
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The Office Advisory Group team comprised of Jonmark Fabiano, Erik Thompson, Jaimeson Hearne, and Marshal Vogt of the Lee & Associates – Orange office, recently helped facilitate the sale of a 4,594 square foot office building in Orange. Jonmark and Erik represented the seller, and Jaimeson and Marshal represented the buyer, S&S Law Corp. The sale price was $895,830 or $195 per square foot.
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The Office Advisory Group team comprised of Jaimeson Hearne, Jonmark Fabiano, Marshal Vogt and Erik Thompson of the Lee & Associates – Orange office, has facilitated the leasing of 1,901 square feet of office space in the Bank of America Tower on S. Harbor Blvd. The group represented the landlord, KF Properties, as they negotiated with Integrity Alarms for a 48 month lease term.
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Jaimeson Hearne and Marshal Vogt of the Office Advisory Group team in the Lee & Associates – Orange office represented Mohseni & Jung LLC in the purchase negotiations of a 2,103 square foot medical office condo located 23141 Moulton Pkwy, a 47,000 square foot building, in Laguna Hills.
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Marshal Vogt and Erik Thompson of the Office Advisory Group team in the Lee & Associates – Orange office represented the landlord and and tenant with the leasing of 3,195 square feet of office space located at 330 E. Lambert Road in Brea.
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Jaimeson Hearne of the Office Advisory Group team in the Lee & Associates – Orange office, has facilitated the leasing of 2,184 square feet of office space located at 451 W. Lambert Road in Brea. Jaimeson assisted the new tenant, The Home & House Center, Inc. with negotiating a 36 month lease term with Olen Commercial Realty, the landlord.
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Marshal Vogt of Lee & Associates – Orange’s Office Advisory Group has recently assisted with negotiating multiple leases with several new tenants of Crossroads Office Park, located at 265 S. Anita Drive.
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Marshal Vogt of Lee & Associates – Orange’s Office Advisory Group has recently assisted with negotiating multiple leases with several new tenants of Crossroads Office Park, located at 265 S. Anita Drive.
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The US office market recorded another vacancy decline of 10 basis points to 10.6% in Q3, after posting 10 point declines in each of the three previous quarters. However, most of the activity is concentrated in a handful of major markets, with secondary markets across the country making more modest gains.
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Vacant sublease space in Orange County increased again from the previous quarter; a sign that businesses are trying to stay ahead of the market by right- sizing their office spaces (increasing or decreasing) and locking rates as they continue to climb. Tenants moving into large blocks of space drove much of the absorption in Q3. Those larger tenants who are still in the market have few options to choose from.
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Lee & Associates – Orange is pleased to announce that the team of Marshal Vogt, Erik Thompson and Jaimeson Hearne of Lee’s Office Advisory Group, has been named the new marketing team for the Prospect 17 Building located at 17821 E. 17th Street in Tustin, CA.
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Doug Himes and Jaimeson Hearne, both of Lee & Associates’ Orange office, have recently assisted their client, the Cystic Fibrosis Foundation, in securing a 5 year lease for 2,703 square feet of office space in Santa Ana. The landlord, Big Brothers Big Sisters of Orange County, were represented in this transaction by CBRE.
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Jaimeson Hearne of Lee & Associates - Orange's Office Advisory Group has assisted both the Landlord and the Tenant in successfully negotiating and closing a 5 year lease. Dr. Ali leased space in the First Street Professional Plaza located at 1076 E. First Street, Tustin.
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Jaimeson Hearne and Marshal Vogt of Lee & Associates - Orange's Office Advisory Group have successfully negotiated a 6,554 square foot office lease for their client, The Network Pro, a provider of state-of-the-are IT support, services, and related products.
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Marshal Vogt of Lee & Associates - Orange's Office Advisory Group have successfully negotiated a class A office lease transaction valued in excess of $4,000,000. Marshal represented the tenant, Angeles Institute, for the long term lease of 14,784 square feet at the 91 Freeway Business Center in Artesia.
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Marshal Vogt of Lee & Associates - Orange's Office Advisory Group has recently closed several more office leases in Orange County. Marshal negotiated on behalf of tenant, Creo Industries and Personal Court Reporters.
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Marshal Vogt of Lee & Associates - Orange's Office Advisory Group has closed $470,000 in lease transactions at Crossroads Office Park during the third quarter of 2015. Marshal represents the Landlord, Fountain Valley School District.
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The advantage has finally turned to the side of Landlords as vacancy decreases and asking rates climb. Tenant incentives are few and far between as Landlords capitalize on demand and lack of inventory. Subleasing is becoming a popular options for Tenants who seek to take advantage of the remaining Landlord incentives. Both Tenants and Landlords are optimistic about the future and continue to see an improving economy.
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As predicted, lease rates continue to push as vacancies decline. Market indicators continue to suggest we are nearing full economic recovery. Orange County vacancy rates drop to 11.5%, a slight decrease over the previous quarter’s 11.7%. Average lease rates continued to climb to $2.13 FSG, up from $2.09 FSG last quarter and $2.00 FSG a year ago. Net absorption for the overall OC market totaled positive 187,669 square feet, a dismal performance compared to positive 1,122,170 SF last quarter.
Read Full Report- Here or visit http://www.officeadvisorygroup.com/market-report/