Flexible office providers continue to see breakneck growth in San Diego
Ending Q2 2019, the coworking industry has dominated national leasing activity
August 07, 2019
- Ending Q2 2019, the coworking industry has dominated national leasing activity with a total of 10.1M s.f., just behind technology as the top leasing industry at 10.7M s.f.
- Flex space/coworking leasing has been active in San Diego with nine deals totaling 185,859 s.f. year-to-date. There are an additional four to five pending transactions for over 200,000 s.f. slated to take occupancy in 2020.
- By the end of 2019 total flexible office space will account for 1.9 percent of San Diego's total office inventory of 81M s.f., which is close to the national average of flex space Vs. office inventory of 2 percent. For comparison sake, other major markets' percentages of flex space inventory are as follows; San Francisco at 3.8 percent, Seattle 2.8 percent, and New York at 3.6 percent.
Source: JLL Research