County Office Market Relatively Healthy

SAN DIEGO-The county began 2002 in enviable good health among the nation’s largest commercial markets, according to newly released market research from CoStar Group Inc.

Unlike the early 1990s, when San Diego County plunged into what would become a prolonged recession, the region entered 2002 with a significantly more diversified economy, a lack of overbuilding, comparatively low unemployment rates and many of its recession-related closures and cutbacks already accounted for, according to CoStar’s year-end office report for San Diego County.

“San Diego is faring relatively well when compared to other markets,” said Erin Miller, CoStar research manager for San Diego. “We are watching the overall real estate and economic market indicators to see how the 2002 economic picture shapes up, but barring any unforeseen events, expect the region to remain fairly stable.”