{"id":1004191162,"date":"2017-09-27T04:02:49","date_gmt":"2017-09-27T12:02:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004191162"},"modified":"2025-02-26T02:45:40","modified_gmt":"2025-02-26T10:45:40","slug":"san-diego-steady-southern-california","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/","title":{"rendered":"San Diego: Steady Southern California"},"content":{"rendered":"<p>By Timea-Erika Papp<\/p>\n<div id=\"attachment_1004191177\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Office-using-employment-in-San-Diego-click-to-enlarge.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004191177\" data-attachment-id=\"1004191177\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/office-using-employment-in-san-diego-click-to-enlarge\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Office-using-employment-in-San-Diego-click-to-enlarge.jpg\" data-orig-size=\"1007,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Office-using employment in San Diego, click to enlarge\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Office-using-employment-in-San-Diego-click-to-enlarge.jpg?w=1007\" class=\"wp-image-1004191177\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Office-using-employment-in-San-Diego-click-to-enlarge.jpg\" alt=\"Office-using employment in San Diego, click to enlarge\" width=\"400\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Office-using-employment-in-San-Diego-click-to-enlarge.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Office-using-employment-in-San-Diego-click-to-enlarge.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Office-using-employment-in-San-Diego-click-to-enlarge.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004191177\" class=\"wp-caption-text\">Office-using employment in San Diego, click to enlarge<\/p><\/div>\n<p>The San Diego office market is on a steady course, as demand for quality space remains strong. The metro\u2019s office inventory encompasses more than 72 million square feet, with a relatively balanced distribution between Class A and Class B space. Vacancy is lowest in primary locations such as the central business district, which boasts relatively modest lease rates.<\/p>\n<p>San Diego is an established life science cluster and continues to attract both tech and science tenants. With some 27,000 jobs added in the 12 months ending in December 2016, employment in the metro increased\u00a01.9 percent year-over-year, surpassing the 1.56 percent national growth rate. Strong demand for space with laboratories or research-and-development components has boosted rental pricing in coveted submarkets such as Torrey Pines, where average lease rates have reached $42.20 per square foot.<\/p>\n<p>Development activity has picked up compared to the previous year, as more than 800,000 square feet of space is expected to come online by the end of the year. Nearly 9 million square feet of space is under various phases of development, while planned projects account for 66 percent of the pipeline.<\/p>\n<p>Total transaction volume reached $728.8 million in the 12 months ending in July, as investors kept looking for good relative value in less expensive office markets. The metro\u2019s CBD presents attractive investment opportunities at relatively modest prices ($213 per square foot). Meanwhile, Torrey Pines emerged as San Diego\u2019s most transacted submarket, with average asking rates reaching a solid $537.60 per square foot in July.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/295-SanDiego-Fall2017OfficeOutlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=295-SanDiego-Fall2017OfficeOutlook\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Read the full Yardi Matrix report.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The metro is an established life science cluster and continues to attract both tech and science tenants. The office inventory encompasses more than 72 million square feet, with a relatively balanced distribution between Class A and Class B space.<\/p>\n","protected":false},"author":240,"featured_media":1004191173,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,1608,15],"tags":[],"class_list":["post-1004191162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-san-diego","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Diego: Steady Southern California - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Diego: Steady Southern California\" \/>\n<meta property=\"og:description\" content=\"The metro is an established life science cluster and continues to attract both tech and science tenants. The office inventory encompasses more than 72 million square feet, with a relatively balanced distribution between Class A and Class B space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-27T12:02:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T10:45:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/MatrixSanDiego_covers_800x620-new-logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/\",\"name\":\"San Diego: Steady Southern California - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/MatrixSanDiego_covers_800x620-new-logo.jpg\",\"datePublished\":\"2017-09-27T12:02:49+00:00\",\"dateModified\":\"2025-02-26T10:45:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/MatrixSanDiego_covers_800x620-new-logo.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/MatrixSanDiego_covers_800x620-new-logo.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-diego-steady-southern-california\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"San Diego: Steady Southern California\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\",\"name\":\"Timea-Erika Papp\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"caption\":\"Timea-Erika Papp\"},\"description\":\"Timea is a senior writer covering CRE marketing, tech and real estate trends, as well as industry news in the U.S. Timea was previously a senior associate editor at Multi-Housing News and Commercial Property Executive and has an academic background in law. 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