Bisnow/Allen Matkins OC Conference - Kurt Strasmann

Investors might now want them, but CBRE senior managing director Kurt Strasmann says there aren't a lot of high-quality, institutional-grade properties for sale in Orange County. "On the industrial side, no one wants to give it up," he observes. (In CRE, sharing is not caring.) "It's tough. That's why you see the values where they're at." Moreover, he isn't worried that Southern California is going to lose its industrial base, despite high taxes and stiff regs. For companies with a lot of employees, there are a lot of options nationwide—such as Texas, which is actively trying to poach biz from California. But there's always going to be an industrial market here, since about 20 million people live within a hour's drive, he says, and many more beyond that.