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1Q Industrial Absorption Falls Sharply

SAN DIEGO-Like the office absorption figures released last month, a new report by Burnham Real Estate Services shows a dramatic downward spike in industrial and R&D leasing in San Diego County through the first quarter.

By Randyl J. Drummer | Updated on May 03, 2001

SAN DIEGO-The county’s industrial and research and development markets slowed dramatically in the first quarter, logging just 247,000 sf of net absorption, according to a new report by Burnham Real Estate Services.

After posting record or near-record first-quarter net absorption for the past four years–an average of 975,000 sf–industrial and R&D markets felt the dual sting of a slowing national economy and decisions by companies to postpone their expansion plans, says Mike Philbin, director of transactional services for Burnham.

The industrial figures follow a similarly dismal showing by the county’s office markets in the first quarter. But officials are inclined to look on the bright side, at least for now.

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