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SAN DIEGO—With e-commerce creating greater infill demand for last-mile delivery, industrial lease rates are responding in kind, and Kidder Mathews' SVP and partner Bob Willingham, SIOR, doesn't see them dropping any time soon, he tells GlobeSt.com. We spoke with Willingham about his greatest concerns regarding San Diego's industrial lease rates and the types of firms most interested in industrial space here.
GlobeSt.com: What are your greatest concerns about the industrial sector in San Diego?
Willingham: From a user perspective, the greatest concern is just how quickly lease rates have gone up over the last few years and how that's going to drive the market in general going forward. The cost of occupancy has gone up so much in San Diego, as it has in other places. This forces users to contemplate what type of footprint they want to have, and a lot of users are trying to figure out how to do more with less rather than making the big move.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
