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Report: San Diego Markets Improving

SAN DIEGO-New projections for the region predict a better supply/demand balance in the commercial real estate markets during 2004, with declined vacancy levels in both the office and industrial sectors.

By Erin Cassin | Updated on December 11, 2003

SAN DIEGO-New projections for the metro area predict that a growth in employment over the next year will lead to an improvement in the region’s commercial real estate markets, in particular the office and industrial sectors.

“Locally, San Diego County is projected to add 126,148 new jobs over the next four years, an annual average of 31,537 jobs and a substantial improvement over the past two years,” says Stath Karras, president and CEO of Burnham Real Estate Services. “This will contribute to improved supply/demand balance in the commercial real estate markets – particularly since a limited amount of land will prevent overbuilding,” he adds.

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