The Southern California office market will weaken in 2008, but L.A. County will be an exception, with a continuing rise in lease rates and relatively high occupancy rates, according to a survey to be released today.

The annual Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey found that there is enough pent-up demand for office space in L.A. County “to drive a seller’s market,” in spite of a drop in demand from housing-related businesses. One reason for this: relatively few new office buildings have come on line in recent years, while the number of businesses requiring office space has soared.

L.A. County stands out in comparison to markets in Orange and San Diego counties, according to survey author and UCLA Anderson Forecast economist Jerry Nickelsberg. The Orange County office market has been particularly hit hard by the demise of the mortgage finance industry centered there.

The survey forecasts that the office market in L.A. County is expected to remain favorable for sellers over the next three years.