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San Diego Office Growth Fueled by Tech
San Diego office landlords are apparently in a pretty good place right now.
Recent research by CBRE indicates that the area’s office rent growth is up 12.7 percent over the last two years, making San Diego County the 10th fastest-growing market in the country for this metric. Driven in large part by the tech industry, the average rent is at $29.88 per square foot, while vacancy rates are at 12.6 percent. Meanwhile, there is reportedly about 885,000 square feet of new space under construction.
The tech sector has grown 7.6 percent over the last two years, mainly in the Sorrento Mesa area.
- ◦Development
- ◦Lease
