Paul Britvar Paul Britvar

Warehouse and distribution buildings have driven the majority of San Diego rent growth activity in recent years. According to a new report from Newmark Knight Frank, rents for warehouse and distribution space have increased more than 50% in the last five years. San Diego has a diverse pool of industrial users, including life science and R&D activity, and warehouse spaces are the most popular for the region’s user base.

“Warehouse and distribution space is the root for so many product types, and as such is the main driver of industrial rents in San Diego,” Paul Britvar, director at Newmark Knight Frank, tells GlobeSt.com. “At present, Flex, R&D, manufacturing, life science buildings, GMP manufacturing operations and some creative office developments are all derived from simple warehouse buildings, which sets the stage for a balancing act between the availability of warehouse buildings and other product types that are converted into a new use.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.