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San Diego Market Reports

San Diego Office Market

Average Asking Rent (Price/SF/Mo) $2.72
Vacancy Rate (%) 12.6%
Net Absorption (SF) 176,306

North County has become center of office development in the region now that Central San Diego is mostly built out, and the rising costs of land and construction lend themselves to alternate property types for development. Carlsbad has seen healthy construction activity in recent years and delivered the first new office building to the market this year with the aforementioned Aston Point.

San Diego Industrial Market

Average Asking Rent (Price/SF/Mo) $0.97
Vacancy Rate (%) 4.4%
Net Absorption (SF) 212,319

Approximately 615,155 square feet completed this quarter, more than all of 2017's deliveries combined. Seventy-two percent of deliveries were leased upon completion. The largest delivery occurred at the Ridgeview Business Park in Poway, with 302,500 square feet across three buildings, which General Atomics Aeronautical Systems (GAAS) will occupy next quarter. Tenant improvement work is underway, and big absorption gains will occur once GAAS takes occupancy. This sole move-in will also alleviate the submarket's temporary vacancy spike.

San Diego Office Market Report
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San Diego Industrial Market Report
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