SAN DIEGO MARKET REPORT

The Costar office and warehouse market reports for 2Q 2013 were recently released. On the whole the outlook is positive for both the office warehouse markets in San Diego. 

 OFFICE SNAPSHOT

The San Diego office market ended the second quarter 2013 with a vacancy rate of 11.7%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 1,108,221 square feet year to date Asking rental rates ended the second quarter at $2.14 gross, an increase over the previous quarter. 

WAREHOUSE SNAPSHOT

The San Diego warehouse market ended the second quarter 2013 with a vacancy rate of 7.7%. The vacancy rate was slightly down over the previous quarter, with net absorption totaling positive 244,409 square feet for the the year to date. Rental rates ended the second quarter at $0.69 NNN, a slight decrease over the previous quarter.