[quote author="tenmagnet" date=1225958351][quote author="OC Zed" date=1225957495][quote author="tenmagnet" date=1225952892][quote author="Hormiguero" date=1225950026]Wow. Someone paid over 2 mil for a tract home 2 short blocks from macarthur a good mile from the water. I wonder what kind of vacancy is creeping into the office buildings ringing fashion island over there.</blockquote>
Prime location around Fashion Island.
The office market is very strong over there.</blockquote>
It may be a prime location, but the office market is very weak right now and has suffered a big drop in the last few months alone.</blockquote>
I agree with what you're saying about the office market being weak with high vacancies.
The area around Fashion Island is not experiencing it yet.
Maybe in time.</blockquote>
Ummm... you have heard about the woes over at <a href="http://mortgage.freedomblogging.com/2008/10/10/downey-savings-markets-newport-hq-for-115-million/2181/">Downey Savings</a>, right? And you do know that there has been a <a href="http://www.voitco.com/webftp/OC3Q08Off.pdf">negative net absorption of 220,000 plus sqft. feet in 2007 and 2008</a>, and you do know that the availability rate is above 14% jumping from 12% from the previous quarter, right? While the vacancy rates are not as bad as everywhere else, they are certainly not headed in a positive direction with Downey's space soon to be vacant. Just sayin... just because on the outside it seems like things are doing well, it doesn't mean on the inside it is doing the same.
