C.J. Segerstrom & Sons' new South Coast Technology Center will transform a 10-acre office park into a 313,000-square-foot industrial campus, responding to shifting market demands.
The project highlights a significant pivot from Class B office spaces to Class A industrial properties, driven by the increasing trend of remote work and changing real estate dynamics.
This shift is underscored by Orange County's 16% office vacancy rate compared to only 4.2% for industrial properties, demonstrating a robust demand in the latter sector.
The new development not only aims to provide modern infrastructure for businesses but also includes community enhancements like public parks and improved streetscapes.
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