Slow Leasing Activity Isn’t The End for Retail

Carrie Bobb

San Diego’s retail market fell flat in the first quarter of the year. According to the 1Q18 report from CBRE, San Diego had 10,102 square feet of negative net absorption in the first three months of the year and posted falling lease rates, down $0.08 per square foot to an average asking rent of $2.26. It isn’t all bad news, though. Carrie Bobb, VP at CBRE and a local retail market expert, tells GlobeSt.com that the retail sector is healthy and active—for class-A premier product. In fact, she is signing leases at strong market rents and has an expectation that leasing activity at class-A properties will remain strong through the summer. We sat down with Bobb for an interview to talk about why the slowing leasing activity isn’t a cause for concern and why she believes that the San Diego retail market is set for a good year.

GlobeSt.com: Why do you consider this a healthy retail market, even as leasing activity is slowing?