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Office Market Reports Positive Net Absorption

SAN DIEGO, CA-Despite a slow first quarter for the San Diego County office market, the region has reported overall positive net absorption for the first three months of 2003. Net absorption actually increased 53% from the fourth quarter of 2002, increasing from 193,645 sf in the last three months of the previous year to 296,262 sf in the first three months of this year, according to a recent report on the region.

By Erin Cassin | Updated on May 12, 2003

SAN DIEGO, CA-Despite a sluggish first quarter for the San Diego County office market, a recent report on the region says overall positive net absorption increased more than 50% from the last quarter of 2002.

The report, published by BRE Commercial/NAI points out that net absorption for the region’s office product jumped from 193,645 sf in the last three months of the previous year to 296,262 sf in the first three months of this year. San Diego’s North County region absorbed 248,145 sf of office space, while its South County office sector experienced 48,117 sf of positive net absorption. Of all the areas in the county, Mission Valley had the largest positive net absorption total of 93,429 sf.

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