The San Diego vacancy rate of 11.8% is compared with the U.S. National Office vacancy rate, which decreased to 11.2% from the previous quarter. The average rental rates increased to $22.38, and 233 buildings delivered to the market totaling almost 13.2 million square feet in the third quarter. Rental rates in San Diego increase over the previous years in the third quarter at $27.26.
Excerpts from the Article:“The vacancy rate was down over the previous quarter, with net absorption totaling positive 526,483 square feet in the third quarter. That compares to positive 59,663 square feet in the second quarter 2014. Vacant sublease space increased in the quarter, ending the quarter at 922,300 square feet.” Citation and link:
Summer, Justin. “Market Trend: San Diego Office Vacancy Decreases to 11.8%.” Costar News. San Diego., Oct. 17 2014. Web. Oct. 20 2014.