Is there light at the end of this tunnel?

The Los Angeles Times reported on the trouble commercial real estate faces in Southern California, with the number of office vacancies rising and expected to grow well into next year. Many companies in the South Orange County region are still inclined to shrink rather than grow during these unsure economic times, resulting in about 17 percent of the total available office space in the region being vacant. However, many companies are also taking advantage of early lease extensions and lower rents in exchange for agreeing to stay put longer. Nevertheless, many feel that the commercial real estate in Orange County has already hit bottom and are preparing for the recovery of the market. So, hang in there! Be flexible and creative with your tenant retention. Analyst feel that the market will level out mid-year of 2010 and plateau there for the remainder of the year.