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San Diego Market Reports

San Diego Office Market

Average Asking Rent (Price/SF/Mo) $2.87
Vacancy Rate (%) 12.3%
Net Absorption (SF) 201,092

Leasing activity in recent years and a major announcement by Apple this quarter have solidified San Diego as a major player in the technology sector. After an initial announcement in late 2018, Apple added it will boost its hiring plans to include 1,200 positions, making the region a principal engineering hub for the tech giant. The UTC submarket stands to benefit. The announcement follows significant market entrances from Google, Amazon and Wal-Mart Labs over the past few years. Limited opportunities and high rents in primary markets along with the availability of STEM talent in the region are attracting tenants to the more accessible live/work/play atmosphere San Diego offers.

San Diego Industrial Market

Average Asking Rent (Price/SF/Mo) $1.03
Vacancy Rate (%) 4.8%
Net Absorption (SF) 784,152

The average asking rent across all property subtypes reached a new high at $1.03/SF, up 4.0% from 12 months prior and 35.5% from five years ago. Warehouse/distribution space drove overall rent growth with a 47.0% jump over the past five years.

San Diego Office Market Report
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San Diego Industrial Market Report
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