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Originally Posted by mello
Well I know that Diamond View Tower and Smart Corner still haven't filled their office space yet so I don't know how well the downtown market is for new office towers besides the "stunning" IM Pei Costa Mesa revival tower  |
DVT is negotiating the rest of their space with Allied Insurance to take over 50,000 SF. That will push them to 90% occupied. I believe the Smart Corner Office portion is owned by the housing commision, and they can only lease to non-profits, which is why it is taking a little longer to absorb. It is always the tenent reps that say the market isn't that hot, but as soon as a new building is finished, at least with 655 and DVT, they are nearly full within a year. That is pretty good absorbtion for a spec building.