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San Diego Office Market Makes Strides

SAN DIEGO—Net absorption doubled in Q2 according to a report released by Kidder Matthews.

By David Phillips | Updated on August 10, 2015

SAN DIEGO—The San Diego office market continues to improve with solid positive net absorption in the second quarter of 2015. This according to a report released by Kidder Matthews based on research from Co-star.

The office vacancy rate in the overall San Diego market dropped further, to 11.29% from 11.49% at the end of the second quarter. Net absorption doubled this quarter, with 367,174 square feet of occupancy gains. Construction activity remains fairly flat, with no buildings delivered to the market yet this year, however, 740,336 square feet is currently under construction. The San Diego County unemployment rate sits at 4.9%, a 0.3% decrease from last quarter, and down 1.4% from a year ago.

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