SAN DIEGO—CBRE remains quite positive in analyzing the local industrial market, saying a low vacancy rate, strong positive net absorption, rental rate growth in the second quarter represented a “wave of positivity.”
A milestone was reached the quarter, the firm notes, as total vacancy dropped to 5.1%, which is below the pre-recession trough of 5.4% in 2006. Every region in San Diego is now at or below 6% total vacancy.
This quarter marked the 12th consecutive quarter of positive net absorption bringing year-to-date absorption to over two million square feet. North County accounted for more than half of that year-to-date absorption with 1,102,298 positive square feet.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
