San Diego’s MOB Market Improves

San Diego’s medical office occupancy increased in the first quarter of 2017, posting an increase of 28,144 square feet of positive net absorption, according to the latest research from JLL. The current overall San Diego County direct vacancy rate of 6.6% is 51% lower than in 2009, when it peaked at 13.6%.

The majority of the region’s medical office submarkets recorded minor movement in total occupancy. The Oceanside/ Vista submarket increased occupancy by 32,728 square feet, dropping into single-digit vacancy (9.8%) for the first time since 2008. The La Jolla/UTC/Sorrento submarket posted 20,146 square feet of positive net absorption.

The weighted average asking rental rate for MOB space continues to climb, with a current year-over-year increase of 4.9% for the county overall. The largest year-over-year increase was La Jolla/UTC/Sorrento, which increased 14.6%, and had the county’s highest average asking monthly rental rate at $3.93 per square foot, fully serviced.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Sub Markets

National

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National CRE News In Your Inbox.

San Diego’s MOB Market Improves

Inside The Story

About Dennis Kaiser