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SD Office Trades Could Escalate Before Year-End

Investor interest in the San Diego office market remains steady, and the bid-ask spread between buyers and sellers is expected to narrow, with more trades happening in the fourth quarter, Yardi Matrix's Doug Ressler tells GlobeSt.com.

By Carrie Rossenfeld | Updated on November 06, 2017

Doug Ressler Ressler: “We see the San Diego market stabilizing and returning to a less-robust status.”

SAN DIEGO—Investor interest in the San Diego office market remains steady, and the bid-ask spread between buyers and sellers is expected to narrow, with more trades happening in the fourth quarter, Yardi Matrix‘s director of business intelligence Doug Ressler tells GlobeSt.com. According to a Q3 report  based on a study by the firm and COMMERCIALCafe, San Diego registered a 340% year-over-year increase in sales volume, jumping ahead of the Bay Area, with 2.31 million square feet traded across 15 deals, making this its best quarter in five years.

The report also stated that San Diego’s great Q3 also made its average price per square foot ($358) rank third among California markets—just behind Los Angeles with $395 and San Francisco at $503. And San Diego scored the quarter’s second-largest deal in California with the sale of DiamondView office tower in Downtown’s East Village to Divco West Real Estate Services for $207 million in September.

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