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Flex Market Continues to Outperform Office

SAN DIEGO, CA-San Diego County's flex/R&D market continues to outperform the region's office sector, according to first quarter research recently released by Insignia/ESG. In the first three months of this year, the flex/R&D market experienced 198,893 sf of positive net absorption while the office sector reported just 143,281 sf of positive net absorption.

By Erin Cassin | Updated on April 25, 2003

SAN DIEGO, CA-Although it is showing some signs of recovery, San Diego County’s office market continues to pale in comparison to the region’s flex/R&D sector. As a new report by Insignia/ESG Research Services Group points out, “San Diego’s flex/R&D market is vastly outperforming the office market.”

Insignia/ESG’s research shows that the county’s flex/R&D sector experienced 198,893 sf of positive net absorption in the first quarter of this year, while the office market reported just 143,281 sf of positive net absorption. In addition, availability of flex/R&D space has dropped from 15.16% to 14.76%, marking a trend that is more than six quarters long, while availability in the office market stands at 17.4%. This figure does reflect a slight decline, however, as office availability contracted for the first time in a year from 17.8% in the previous quarter.

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