Brett Ward Ward: “What actually drives San Diego is our entrepreneurial growth with scientists or tech executives starting new companies, getting venture capital or private-equity funding.”

SAN DIEGO—Between Amazon, Illumina, Northrop Grumman and a spate of other large corporate users, the options for large office users are dwindling, driving the redevelopment frenzy, Brett Ward, managing director of Cushman & Wakefield‘s office division in San Diego, tells GlobeSt.com. The region’s office market regained its robust momentum in the third quarter spurred by some large corporate users, according to the firm’s Q3 office market report.

The market achieved 716,600 square feet of positive net absorption, bringing total year-to-date occupancy growth to nearly 1.3 million square feet, which equates to an average of 423,000 square feet of growth per quarter. According to Jolanta Campion, C&W’s research director in San Diego, this was the highest level of positive net absorption through the first three quarters of any year since 2005′s 1.4 million square feet of absorption.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.