City of Orange is one of the main cities of Orange County, California. It is located just to the north of Santa Ana, the county seat. Its Old Town District has many homes and properties that were built before 1920. In the majority of Orange County, these properties were demolished in the 1960s, but Orange has preserved them instead, which makes it different from the other cities. The city surrounds Villa Park, which is one of the wealthiest cities in the county. As of the 2014 U.S. Census, it was found that the city of Orange had a population of 139,812.
Orange is a city that strives to improve education, health, and culture. This is indicated in the city’s largest employers, which include the city government, hospitals, the zoo, and universities. There is a particular market for antique collectors in Orange as well. With the many antique shops in the city, thousands of visitors come to the city each year.
City of City of Orange Industrial Building for Sale & Lease – Should You Buy or Lease?
If you are interested in industrial space, whether as an investment or for running a business from, you have two major alternatives: buying or leasing. There are both advantages and disadvantages for both choices.
Considering the possibility of buying industrial space, there are advantages:
- Your costs are fixed, which means your business expenses are predictable.
- You can get substantial tax deductions, with property taxes and mortgage interests.
- You can rent some of your industrial space when you need more funds.
- You can accumulate substantial funds, as the property is expected to increase in value over time.
However, there are some disadvantages as well and these include:
- The fact that you don’t have much flexibility. If your business either grows bigger or becomes smaller, your industrial space may no longer be appropriate and you might have to sell and then buy a new property.
- Your expenses are substantial because you may need to shell out at least 30 percent of the selling price. In addition, you will have to take care of maintenance, appraisal, and other property expenses.
Your other option is to lease your industrial space, which has several benefits:
- It is possible to get a prime property, which can boost the image of your business.
- You will have more money left because you don’t have to pay for a down payment.
- You don’t have to think about the various issues involving property ownership, which means you can concentrate on running your business
On the other hand, there are some disadvantages in leasing an industrial space:
- Because of the tendency of rent to increase, your expenses will rise.
- There is no accumulation of funds, unlike when you own the property where you can benefit from the appreciation of its value.
To help choose between the two options, you may want to take a look at the trends and statistics in terms of prices, supply, and demand.
City of City of Orange Industrial Property for Sale – Trends and Statistics
- The asking prices for industrial properties in Orange in dollars per square foot is $222.13, which is a 2.7% rise over the past three months, and a 10.9% increase year on year. This is higher than the metro ($195.29) and state ($142.69) area.
- The index of total available industrial properties for sale in Los Angeles-Long Beach-Orange is 28, which represents a 6.7% increase over the past three months but a 2.9% decrease year on year.
- The index of total number of listings of industrial properties available in Los Angeles-Long Beach-Orange is 26, which is a 7.7% increase over the past three months, and a 7.2% increase year on year.
- The profile view index industrial property for sale in the Los Angeles-Long Beach-Orange metro area is 174, which is a 19.2% increase over the past three months, and a 30.9% increase year on year.
- The index of total square feet of available industrial space for sale in the Los Angeles-Long Beach-Orange metro area is 26, which is a 0.2% decrease over the past three months, and an 18.8% decrease year on year.
City of City of Orange Industrial Property for Lease – Trends and Statistics
- The asking rent for industrial properties for lease in Orange in dollars per square foot per year is $11.29. This represents a 0.2% increase over the past three months, and an 8.7% increase year on year. This is higher than the state ($10.31) area, but lower than the metro ($11.75), and county ($12.93) area.
- The index of total number of industrial spaces for lease in the Los Angeles-Long Beach-Orange area is 34, which represents a 0.5% decrease over the past three months, and an 11.9% decrease year on year.
- The profile view index for industrial properties for lease in the Los Angeles-Long Beach-Orange area is 128, which is a 51.9% decrease over the past three months, and a 43.5% decrease year on year.
- The index of total square feet of industrial space available for lease in the Los Angeles-Long Beach-Orange area is 29, which is an 8.7% decrease over the past three months, and a 20.8% decrease year on year.