County's Industrial, R&D Markets Will Continue to Benefit from Business Growth

SAN DIEGO-The first three quarters of the year ended with 1.98 million sf of absorption of industrial product in the county, which should drive escalation of prices through next year, according to a report by Voit Commercial Brokerage.

The majority of the absorption can be attributed to business expansion within San Diego County, along with some new and startup businesses coming in, according to Voit. The industrial market has performed well through the first three quarters of 2000 and should continue to do so into next year, according to the brokerage.

With a third-quarter 2000 vacancy factor of 6.36%, industrial prices for both leases and sale properties should rise 5% to 7% over the next year according to Voit. The current average asking lease rate for industrial product in San Diego County is 60 cents per sf, triple net.