Information Provided By: Costar Market Statistic & Analytic Reports
OFFICE
Even if the vacancy rate nudged up at the beginning of 2020, San Diego ended 2019 with its lowest vacancy rate in more than a decade and an equally low availability rate. Carlsbad and UTC led San Diego in2019 with the highest net absorption totals, supported by expansions into build-to-suit projects for ViaSat and Takeda Pharmaceuticals, respectively. At the same time, annual rent growth ended the year above the historical benchmark and remained consistent year-over-year. That momentum has largely held during 20Q1...(click for full report).
12 Mo. Deliveries in SF 444 K
12 Mo. Net Absorption in SF
35.1 K
Vacancy Rate
9.7%
12 Mo. Rent Growth
3.8%
INDUSTRIAL
The vacancy rate ticked up to its highest level in three years at the end of 2019. The county added more net new supply in the past two years than during any other stretch since the recession. It is almost entirely all supply-induced since net absorption was only negative n two of the past eight quarters. However, as schools, businesses, and countless other ventures transition into a new normal to combat the spread of the coronavirus, the immediate and lasting impact on the industrial sector is not yet fully known. CoStar is in the process of updating its forecast models to account for the changing economic environment...(click for full report).
12 Mo. Deliveries in SF 1.3 M
12 Mo. Net Absorption in SF
83.5 K
Vacancy Rate
5.8%
12 Mo. Rent Growth
4.6%
RETAIL
San Diego has become one of the nation's top life science markets. The region is also a worldwide tourist destination, and those tourists pour billions of dollars into the local economy. However, with uncertainty spreading across the globe in the face of the coronavirus, hotel occupancy is already falling and tourism is likely to crater in the near term. Additionally, as schools, businesses, and countless other ventures transition into a new normal to combat the spread of the coronavirus, the lasting impact on the retail sector is still unknown. CoStar is in the process of updating its forecast models to account for the changing economic environment...(click for full report).
12 Mo. Deliveries in SF 164 K
12 Mo. Net Absorption in SF
239 K
Vacancy Rate
4.0%
12 Mo. Rent Growth
4.6%
MULTIFAMILY
New supply outpaced net absorption in 2019, a streak now lasting three years. As might be expected, the vacancy rate ticked up each year. Even so, annual rent growth remained steady and in line with 2018, even as concerns over affordability blanket the region…(click for full report).
12 Mo. Deliveries in SF 4,223
12 Mo. Net Absorption in SF
3,808
Vacancy Rate
4.9%
12 Mo. Rent Growth
2.3%
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