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Regional Summaries

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San Diego, CA

Apartment
The 191,674-unit market-rate, investment grade San Diego apartment market finished the third quarter of 2017 with very low vacancy, while rent gains remained strong. San Diego’s third quarter 2017 apartment market vacancy rate was 3.2%, according to Reis, up 10 basis points from the prior quarter and up 20 basis points over 12 months. Average asking and effective rents were up 1.0% and 1.1%, respectively, in the third quarter of 2017 and up 4.0% and 3.7% over 12 months. The current rates are $1,721 per month asking and $1,664 per month effective. VIEW APARTMENT LISTINGS >
Industrial
Rents for Reis’s San Diego warehouse/distribution and Flex/R&D markets showed healthy growth in the third quarter of 2017. Occupancy improved in warehouse/distribution space during the third quarter, while new supply caused Flex/R&D vacancy to edge up. Reis reports a 7.5% vacancy rate for 70.5 million square feet of warehouse/distribution space in San Diego County in the third quarter of 2017. The rate is down 70 basis points for the quarter and down 160 over 12 months. For warehouse/distribution space, Reis reports the quarter ended with asking and effective rents of $8.44 psf and $7.70 psf, up 1.2% over the quarter, and up 4.6% and 4.9% over 12 months. For 38.9 million square feet of Flex/R&D space, Reis reports a third quarter 2017 vacancy rate of 11.8%, up 10 basis points from the prior quarter but down 80 over 12 months. Flex/R&D asking and effective rents ended the third quarter at $13.12 psf and $11.68 psf, up 1.0% and 1.1% over the quarter, and up 3.8% and 4.1% over 12 months. VIEW INDUSTRIAL LISTINGS >
Office
The San Diego general purpose, multi-tenant office market finished the third quarter of 2017 with falling rents and a rise in vacancy. Net absorption was negative for the fifth straight quarter. Reis reports a third quarter 2017 vacancy rate of 15.0%, up 30 basis points over the quarter and up 10 year-over-year. San Diego office rents posted a round of losses in the third quarter of 2017, ending the positive trend begun in the first quarter. Reis reports the average asking and effective rents fell 0.1% during the quarter to $31.62 psf and $25.72 psf. The rates are up 1.0% each over 12 months. These gains are below the 0.3% asking and 0.6% effective gains of the first quarter, and for that matter beneath the 0.3% gains for both measures recorded in the second. VIEW OFFICE LISTINGS >
Retail
San Diego community-neighborhood shopping center rent gains fell in the third quarter of 2017, after only slight gains in the first and second. Net absorption was negative, although the year-to-date amount is positive, and vacancy is low. Reis reports a third quarter 2017 community-neighborhood shopping center market vacancy rate of 6.2%, up 20 basis points from the prior quarter and down 40 from one year earlier. Community-neighborhood shopping center rents showed losses for both asking and effective rates during the third quarter. These rates were reported by Reis at $31.26 psf and $28.21 psf, both down 0.4% over the quarter, and up 1.4% asking and 1.6% effective over 12 months. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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