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San Diego Market Reports

San Diego Office Market

Average Asking Rent (Price/SF/Mo) $2.83
Vacancy Rate (%) 12.8%
Net Absorption (SF) -162,874

While apartment development in Downtown San Diego has been substantial this real estate cycle, this quarter had the submarket's first speculative office project to deliver since the Sempra Energy building in 2015. Makers Quarters delivered a 60,000-square-foot building in late 2018, with leases in place from Spaces (30,000 square feet) and Basic (10,000 square feet).

San Diego Industrial Market

Average Asking Rent (Price/SF/Mo) $1.00
Vacancy Rate (%) 5.0%
Net Absorption (SF) -135,071

2017 saw record-breaking construction volumes for industrial product, while 2018 saw watermark highs for completions. In the fourth quarter of 2018 alone, 905,837 square feet of new product delivered to the market, more than in any other quarter this cycle. Annual deliveries in 2018 reached 2.2 million square feet, another record for the region. This new supply has been well-received, with 63.5% leased to date.

San Diego Office Market Report
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San Diego Industrial Market Report
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