Jolanta Campion

The San Diego office market stands to benefit from Congress' $300 billion spending bill. San Diego has a history of working with the Federal Government, and the market is home to many of the industries, like healthcare and medical research, that are targeted by the new funding. This puts San Diego in a prime spot for increased office growth in 2019.

“Markets having a long history of doing strategic business with the Federal Government are likely to benefit most from Congress' $300 billion spending bill—and San Diego is one of those markets,” Jolanta Campion, director of research San Diego and Nevada at Cushman & Wakefield, tells GlobeSt.com. “For example, the National Institutes of Health received significant increases in funding from the latest spending bill. Being one of the country's medical research center and life sciences hubs, San Diego will likely benefit from increases in government grants and other funding to be awarded by the NIH.”

In addition to the medical and science industries in San Diego, defense continues to be one of the major drivers of the office market. “The Department of Defense was the biggest winner in the budget negotiations and San Diego, with a significant military presence and related operations—naval forces, marine core, defense contractors, etc.—will also likely be a beneficiary of increased DoD spending,” adds Campion.