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San Diego Market Reports

San Diego Office Market

Average Asking Rent (Price/SF/Mo) $2.81
Vacancy Rate (%) 12.6%
Net Absorption (SF) 75,691

The expansion of coworking throughout the nation has been a major factor in the current real estate landscape, and San Diego is no exception. The third quarter saw a sizeable lease Downtown, with International Workplace Group (IWG), under its Spaces brand, taking 33,806 square feet at the under construction Makers Quarters development. Occupancy is slated for 2019. The new lease is the second Spaces location in the region, after a 20,707-square-foot office opened in UTC last year.

San Diego Industrial Market

Average Asking Rent (Price/SF/Mo) $1.00
Vacancy Rate (%) 4.2%
Net Absorption (SF) 372,021

Demand for modern, functional space has resulted in record-breaking construction volumes in 2018. New construction is driving occupancy gains, and oversupply is not a concern at this time. Approximately 988,000 square feet delivered in the first nine months of 2018 with 80.1% leased, thanks to large committals from General Atomics (302,500 square feet in Poway), H&M Electronics (140,000 square feet in Carlsbad) and Zodiac (106,122 square feet in Carlsbad). Two buildings delivered this quarter with leases in place: Exeter Industrial Park, a 218,088-square-foot building in Escondido leased entirely by Veritiv; and 7120 Miramar Road, a 30,000-square-foot building occupied by owner-user Bedrosians Tile & Stone.

San Diego Office Market Report
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San Diego Industrial Market Report
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