{"id":1004796603,"date":"2025-11-24T04:07:00","date_gmt":"2025-11-24T12:07:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004796603"},"modified":"2026-04-28T04:13:50","modified_gmt":"2026-04-28T12:13:50","slug":"san-diegos-office-landscape-between-highs-and-lows","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-diegos-office-landscape-between-highs-and-lows\/","title":{"rendered":"San Diego’s Office Landscape, Between Highs and Lows"},"content":{"rendered":"\n

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San Diego’s office market has shown both strength and strain in the first nine months of the year, according to Yardi Matrix data. <\/p>\n\n\n

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Pfizer’s La Jolla Campus includes five buildings totaling nearly 188,000 square feet. Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n

Development activity remained steady across the metro, while the investment volume hit the $1 billion mark, positioning America’s Finest City in the top 10 U.S. markets. Despite softening investor appetite, San Diego still had some of the most highest office prices in the country, well above the national average.<\/p>\n\n\n\n

Meanwhile, the vacancy rate climbed sharply\u2014unsurprising given the oversupply of office and life science space following the post-pandemic surge in construction activity. While major leases are still being signed here and there, they have yet to significantly reduce the rate.<\/p>\n\n\n\n

San Diego’s office development calmly carries on<\/h2>\n\n\n\n

As of September, San Diego\u2019s under-construction pipeline comprised approximately 2 million square feet of competitive space across 11 projects, representing 1.7 percent of total stock\u2014more than double the national average of 0.8 percent.
Among similar markets, San Diego occupied the fourth position for pipeline size. Austin led the rankings with 3.8 million square feet, followed by the Bay Area (2.9 million square feet) and Houston (2.6 million square feet). The smallest pipeline was in Charlotte, N.C., where only 276,379 square feet were underway.<\/p>\n\n\n\n