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San Diego is one the most affordable places in California for office construction and rent

  • ​Developers and companies are capitalizing in San Diego for its cheaper alternative compared to other California top markets. The rents and average construction wages are less expensive while still having access to a high talent labor force.
  • Hourly average construction jobs in San Diego for 2016 at $19.04 is the lowest for all of California and only above the U.S. average at $18.96 per hour. In addition, office rents for the Bay Area are significantly higher than San Diego by 32% to 45%.
  • Most of the demand for 2017 came from newly delivered and fully renovated buildings proving that companies are expanding and entering the market taking advantage of affordable rents and build outs. Currently San Diego office new supply and demand is already looking robust for the 2018 pipeline, with currently three build to suits that will add approximately 500,000 square feet of positive absorption and new deliveries for 2018. ​

Source: JLL Research, BLS  ​

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