During the fourth quarter 2013, 10 retail buildings totaling 89,947 square feet were completed in the Orange County retail market.
Over the past four quarters, a total of 174,503 square feet of retail space has been built in Orange County. In addition to the current quarter, six buildings with 53,606 square feet were completed in third quarter 2013.
There was 795,266 square feet of retail space under construction at the end of the fourth quarter 2013.
Some of the notable 2013 deliveries include: Village Circle on Beach – Bldg 1 & 7 in Buena Park, a 32,049-square-foot facility that delivered in fourth quarter 2013 and is now 100% occupied, and The Residences located at 7521-7631 Edinger Ave in Huntington Beach, a 23,399-square-foot building that delivered in third quarter 2013 and is now 94% occupied.
Total retail inventory in the Orange County market area amounted to 138,662,342 square feet in 9,743 buildings and 1,592 centers as of the end of the fourth quarter 2013.
This trend is compared to U.S. National Retail deliveries and construction, which saw 563 buildings totaling 10.42 million square feet complete construction, with an additional 46.5 million square feet of retail space still under construction at the end of the fourth quarter. A 747,500-square-foot retail facility delivered in the fourth quarter at 75 W. Rte 59 in the Northern New Jersey market, and a 628,000-square-foot building delivered in the Phoenix market back in the third quarter. Total retail inventory in the U.S. market totaled 12.4 billion square feet in more than 1.05 million buildings at the end of the fourth quarter 2013, including almost 97,000 shopping centers
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