Office / Industrial & Mixed Use Market Studies
The Siracusa Company has an extensive background in commercial office, industrial and mixed-use studies. Our experience spans from conducting quarterly audits of all new and turn over office/industrial space in a major market to a multitude of individual site specific marketability studies. For a period of 10 years, the principal of The Siracusa Company was responsible for the collection and analysis of data and the orchestration of a quarterly seminar designed to assess market conditions and future prospects for the office and industrial space markets in Ventura County. The results of the analysis were incorporated into a quarterly statistical publication that quantified such factors as total supply by category of space, rental rate ranges, sale prices, absorption rates of new space, and overall market vacancy.
The Siracusa Company maintains a large historic database of office and industrial space for market areas stretching from north Los Angeles County to Santa Barbara County. Our database includes office/industrial space in the cities of Lancaster and Palmdale, the Santa Clarita Valley, the San Fernando Valley, all of Ventura County, Goleta, Carpinteria, and Santa Maria in Santa Barbara County. We have also conducted an inventory of selected mixed-use projects within the State of California with an emphasis on Southern California.
Our market studies for office, industrial and mixed-use projects typically include the following methodology:
- Evaluation of the subject site from the standpoint of location, general environment, access, visibility, transportation, community trends, and other factors.
- A comprehensive field survey of competitive office/industrial buildings and/or business parks in order to profile space sizes, rental rates, vacancies, tenant composition, amenities, and absorption rates for new projects.
- An analysis of regional employment trends to validate future space needs in the marketplace by utilizing space per employee ratios.
- Critical review of building design and floor plans to ensure that the proposed project meets the needs of the identified end user market.
- An investigation of planning department records to identify projects in the entitlement process that might represent future competition.
From this research our recommendations include:
- Target user profiles
- Building types and sizes
- Space utilization modules (manufacturing/research/office space proportions)
- Type and distribution of industrial dock high and standard roll-up doors
- Rental rates and/or sale prices
- Floor plan design elements
- Parking
- Projected absorption rate