SAN DIEGO—Cassidy Turley has released a mid-year San Diego County industrial report that shows 862,008 square feet of year-to-date net absorption—the county's best mid-year performance since 2008.
According to the study, this improvement follows 12 consecutive quarters of positive net absorption totaling 6.7 million square feet (msf), or an average of 570,000 square feet per quarter. Net absorption in the second quarter of 2014 totaled 489,139 square feet for all product types combined.
“The San Diego industrial market has been in growth mode since 2012, leasing 3.9 msf,” said Todd Davis, vice president with Cassidy Turley. “This momentum compares to the prior three years in which the market worked to recover more than 4.2 msf that was vacated in 2009, the worst year of the recession.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
