Report | San Diego Office Insight - Q1 2016
For the first time in five years, San Diego’s construction pipeline is now 100 percent speculative—with no new space yet preleased. Given lower absorption numbers in Q1, we anticipate occupancy growth could be limited going forward as these new buildings deliver.
County wide, Class A asking rents remained unchanged in Q1 2016. UTC was the only major submarket to record a negative rate decline quarter-over-quarter. Del Mar Heights, Kearny Mesa and Mission Valley each recorded at least 2 percent growth.
Overall, the San Diego vacancy rate dipped to 13.5 percent (as of Q1). That’s the lowest it’s been since 2007.
Learn more about what’s happening right now in San Diego—and what we can expect over the next couple months—by downloading our Q1 2016 US Office Insight.
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