High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Office  | 

CBRE Reports Strong Absorption Drives Record Low Office Vacancies

The San Diego office market improved, as overall vacancy fell to 12.5% in Q1 2016, a new post-recession low. CBRE reported the improvement was driven by more than 660,000 square feet of quarterly positive net absorption, which exceeded total net absorption in all of 2015.

The market for Class A office space continued to tighten, driving demand for Class B product, which accounted for 59.9% of the overall net absorption. In central coastal submarkets, record rents were achieved, signifying declining supply amid continued demand for space. Sales activity was strong in the first quarter with $648.5 million in volume, according to RCA, greater than both Q4 2015 and Q1 2015.

CBRE’s Jeff Oesterblad says, “The San Diego office market is healthier than it has been in years, with nearly every Class A and Class B submarket in the county being at, or near, peak historical rents.”

Connect

Inside The Story

Read More at CBRE ResearchConnect with CBRE’s Oesterblad

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.

  • ◦Sale/Acquisition
  • ◦Lease
New call-to-action
New call-to-action
New call-to-action