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San Diego: The future is bright

And it's about more than just the great weather.
February 01, 2018

San Diego’s tech market continues to lure companies looking to escape rising rents and heated talent competition in nearby coastal markets.

The city’s reputation as being one of the most desirable locations to live in the U.S. keeps it on the map with tech companies, along with a number of other reasons – namely it’s highly qualified talent pool and low asking office rents (the lowest average asking rents among key California office markets, actually).

Home to three major universities and growing defense technology and life science industries, the caliber of tech talent continues to swell in San Diego.

It ranks fifth in the nation for share of STEM bachelor’s degrees. Of the top 15 tech cities, San Diego has the highest Millennials share of the population at 31.6 percent. It also has the highest percentage of patent growth, recording 84.4 percent growth in the last 5 years, making it highly innovative and a breeding ground for spin-off tech companies. With much of the groundwork laid and improving “tech market metrics," the future is bright for San Diego.

Numbers to watch

The large and highly skilled Millennial labor pool has posted some impressive numbers.

  • 45.3% - The population over 25 with an Associates degree or higher
  • 37.4% - The population over 25 with a Bachelors degree or higher
  • 24.7% - The share of Bachelors degrees that are STEM degrees
  • 9.2% - The population over 25 with a STEM degree

Top lease transactions (2017)

1. 3430 Carmel Mountain Rd.

  • Submarket: Del Mar Heights
  • Size: 32,475 s.f.
  • Type: New

2. 5550 Morehouse Dr.

  • Submarket: Sorrento Mesa
  • Size: 25,203 s.f.
  • Type: New

3. 9276 Scranton Rd.

  • Submarket: Sorrento Mesa
  • Size: 23,365 s.f.
  • Type: New

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