Can SD Satisfy Quality Office-Space Demand Long Term?

Ashton: “More amenities and new upgrades where people can enjoy the open space with colleagues and clients makes for a more appealing workplace environment.”

SAN DIEGO—San Diego can satisfy the demand for quality office space long term “without a doubt,” since the city’s lifestyle of work hard/play hard has put companies on the world platform as a hub to have their businesses located here, JLL’s senior research analyst Patrick Ashton tells GlobeSt.com. According to a recent report from the firm, healthcare, life-science, scientific and technical lease deals have dominated the office market in San Diego this year, with these deals combined accounting for 53% of the total leasing activity in San Diego so far this year.

Northrop Grumman and MedImpact have been expanding, driving most of the office demand in the large-headquarters office sector. Five tenants in the market have signed for spaces greater than 100,000 square feet, and leasing activity remains robust in the market, with office-space deals signed so far totaling over 4.9 million square feet.