Key Users Need More From Office Stock


National event in SoCal! Meet the people leading the sector at RealShare Industrial West. The Westin Long Beach, January 19-20.

Hennessey: “For the office sector in particular, our view is that Orange County is a late-recovery market where rent levels are still at a discount to 2008 rent levels.”

ORANGE COUNTY, CA—Most of the office inventory in Orange County has not been reworked to address the needs of today’s growing finance, insurance, real estate,technology and healthcare companies, Prudential Real Estate Investors’ managing director Tim Hennessey tells GlobeSt.com. As we recently reported, PREI, in a joint venture with McCarthy Cook & Co., has acquiredMetroCenter at South Coast, an office campus built on 15 acres with three 12-story office towers and a three-story health club. The joint venture intends to renovate MetroCenter by adding on-site amenities, including a plaza renovation with collaborative outdoor space and updated lobbies and corridors and the addition of a conference center, tenant lounge and rooftop decks. We spoke exclusively with Hennessey about what his firm likes about the Orange County office market and its approach to repositioning in this market…

Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.