SAN DIEGO-The outlook for San Diego development in the coming year and beyond is markedly different, depending upon which submarket you are focusing, according to commercial real estate professionals with Jones Lang LaSalle.

While many submarkets are likely to see new development in the coming years, the motivation behind the new building varies by location. These observations, from professional's in the firm's San Diego office, are included in a recently released market forecast video.

In suburban submarkets such as UTC, Sorrento Mesa and Del Mar Heights, vacancies are steadily declining while rental rates are slowly increasing and large blocks of space are nearly non-existent. Tenants in older buildings are now seeing rents comparable to those in newly constructed buildings. These changes in market conditions have some developers willing to build speculative office product and the trend will likely continue.