SAN DIEGO, CA—A new report from Cassidy Turley San Diego shows that San Diego County industrial vacancies have fallen for the seventh consecutive quarter, currently standing at 9.3% for its lowest level since mid-2011.

The Cassidy Turley report shows that there were 366,165 square feet of positive net absorption for the three months ending March 31. It also shows that that more than 4 million square feet of space has been absorbed countywide since June 30, 2011, equating to a quarterly average of 577,000 square feet.

“We are seeing a slow and steady rebound in the industrial market with sustained improvements in net absorption, decreasing vacancy and stabilizing rents,” said Bryce Aberg, senior vice president with Cassidy Turley San Diego's industrial division. “While we have yet to reach pre-recession activity levels, which averaged 648,000 square feet of quarterly net absorption in 2006 and 2007, the market should continue to improve at a measurable, healthy rate throughout the rest of 2013 and into 2014.”