Senior Vice President Jay Nugent, head of Orange County’s Agency Leasing team, was interviewed on GlobeSt.com in the article “This Factor Can Justify Higher Office Rents.”
Jay Nugent shared his thoughts on the high demand for office space in close proximity to quality retail centers such as Fashion Island and the Irvine Spectrum Center. Jay explains, “People have always had to get in their cars to get to amenities here. With the huge growth and successes in urban areas such as San Francisco, New York and even now Downtown L.A. as well as other major markets, Orange County residents crave a little of that “urban city feel.” The rising demand for walkable amenities coupled with the current lack of supply has allowed landlords to demand premium rents for such assets.
Read the original article: This Factor Can Justify Higher Office Rents