Trolley-Friendly San Diego Emerges
A new report from Cushman & Wakefield’s San Diego research team highlights the impact transit options have on commercial office properties. The report looked at three key trolley-friendly office submarkets in San Diego, including Downtown, Mission Valley and UTC.
Cushman & Wakefield’s Jolanta Campion says, “Currently, there is just 9.3 million square feet of office product countywide in San Diego located within a 5-minute walk of a trolley station, while that figure bumps to 13.1 million square feet if within a 10-minute walk. Largely composed of Class A space, these figures respectively represent 12% and 17% of the total 77 million square feet of office inventory in the region.”
She added, “The Mid-Coast Trolley Extension of the blue line will add another 3.8 million square feet of existing office space to our regional walkable counts, resulting in 22% of all countywide inventory that would be situated within a 10-minute walk of the trolley–mostly in UTC.”
The expanded transit system is fueling new development, too. There are more than 4,000 multifamily units under construction downtown, with another 7,000 proposed. Downtown also has more than 700,000 square feet of office construction and renovation, with more than 3 million square feet proposed.
For comments, questions or concerns, please contact Dennis Kaiser