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North County Industrial Market Reports Slowdown

SAN DIEGO-According to new research, the North County industrial market experienced negative net absorption of 854,749 sf in the last quarter of 2002. The decline comes after a year of positive net absorption and declining vacancy.

By Erin Cassin | Updated on February 05, 2003

SAN DIEGO-The North County industrial market has taken a turn for the worse, as new research on this sector says it is experiencing negative net absorption and a rise in vacancy rates.

“After a year of solid positive net absorption and declining vacancy rates, the market quickly came to a standstill” in the fourth quarter of 2002, according to the recent report by BRE Commercial/NAI. Fourth quarter figures show a negative net absorption of 854,749 sf. Meanwhile, the vacancy level rose two percentage points in the fourth quarter to 10%, with the year-to-date vacancy rate leveling off at 9%.

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