SAN DIEGO—Developers restraining themselves from being too aggressive and not overbuilding office properties in the current economy will contribute to San Diego's staying power when the current cycle reaches its end, Cushman & Wakefield managing director Derek Hulse tells GlobeSt.com. According to the firm, San Diego is one of the top-10 cities for office absorption year-to-date nationally. C&W's Revathi Greenwood, head of research, Americas, said in a recent national office-absorption report that Santa Clara, CA; Brooklyn, NY; Seattle; Raleigh/Durham; and San Diego are five tech-centered markets that “each have seen more than 1 million square feet in space absorption.”
We spoke with Hulse and Jolanta Campion, director of research for the firm's San Diego region, about what is causing absorption to be so strong in this market, what will give it staying power when the current cycle ends and what type of space is more—and less—appealing to tenants.
GlobeSt.com: What is causing absorption to be so strong in this market?
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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.
