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New deliveries for 2018 are on pace to be the highest since the last cycle peak

​Current construction online for medical, office, industrial, and flex is on target to deliver 2.5 million square feet in 2018, making it the highest in 10 years. Industrial with 1.6 million square feet is leading the pack at 62 percent of the total.

Since 2012, all four sectors combined have averaged almost 3 million square feet of positive net absorption, totaling 17.6 million square feet. Builders are now catching up to the demand and will soon have more construction coming online with tenants in the market totaling over 6 million square feet.

In September 2017, San Diego totaled 81,400 construction jobs, which is up 5.2 percent over the last 12 months and the highest it is been in ten years. Total number of construction jobs still have some catching up to do to match their peak of 90,900 back in June 2007.​

Source: JLL Research




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