But projected growth isn't the only factor driving office development. According to Delores Conway, Director of the Casden Forecast at the University of Southern California's Lusk Center for Real Estate, the area is an underserved office market - even at its current population.
Husing said the region had 6.1 square feet of office space per capita in 2006, compared with 18 square feet per capita in Los Angeles County and almost 24 square feet per capita in Orange and San Diego counties.
"The pace of development, in my opinion, has been fairly regulated," said Hileman Co. President Jack Hileman.
He added that the Ontario airport sub-region has had 11 consecutive quarters with a sub-10 percent vacancy rate.
Looking at the pipeline, Hileman said he's not concerned about climbing vacancy rates. "There's not too much under construction if absorption continues to be as it has been," he said.
September 24, 2007