Ten-X, an online real estate marketplace, said Wednesday Orange County is a region where investors should consider buying office real estate.
The company said in its latest U.S. Office Market Outlook that, besides Orange County, areas investors should consider are Portland, Oregon; Oakland; Palm Beach, Florida and Miami.
“These regions, concentrated in Florida and the West Coast, are being fueled by growing economies, where strong demographics and consistent job growth are fueling robust demand for office space,” a statement said.
In contrast, investors should consider selling their properties in Houston, Cleveland, suburban Maryland, Memphis and Milwaukee.
“These cities are being undermined by weakening labor markets, which have reduced demand for office space and significantly slowed absorption rates,” it said.
—City News Service