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Report: San Diego Among Nation's Leaders in Office, Apartment Sectors

SAN DIEGO-This city is ranked among the top five commercial investment spots in the US in a study by the National Association of Realtors.

By Randyl J. Drummer | Updated on May 01, 2001

SAN DIEGO—Despite local reports of a slowdown, a new national survey ranks San Diego among the nation’s most promising office markets for 2001. San Diego also boasts one of the hottest multifamily markets in the country, according to the quarterly report and forecast issued by the National Association of Realtors. Washington, DC-based NAR’s 700,000 members make it the largest trade association in the US.

Nationally, commercial markets took a dip in the last quarter of 2000, according to the report. But NAR expects general improvement in the second half of this year, as interest rates stay low and the economy regains some strength.

San Diego joins Boston, Austin, San Jose and Orange County among markets expected to post the biggest rent growth in 2001. Nationally, the association predicts “positive but moderating” office demand, with vacancy factors rising modestly to 10.8%. Rents, adjusted for inflation, will grow at a national average of 3.8%.

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