Hesitancy among office users means hiring is not keeping pace with revenue growth, which is decelerating occupancy growth in Orange County, Savills Studley’s EVP, branch manager, Royce Sharf tells GlobeSt.com exclusively. We spoke with Sharf about why tenants have been so cautious, the type of space they are seeking and the Orange County office market in general.
GlobeSt.com: What is making tenants so cautious in the Orange County office market? How is this caution likely to change in the coming months?
Sharf: American business is simply more cautious at this stage of the economic recovery. Orange County follows that same trend. The most direct impact of this cautious perspective is that hiring is not keeping pace with revenue growth.
GlobeSt.com: What types of office space are tenants typically seeking and why?...Office Tenants’ Caution Slows Recovery
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