SAN DIEGO—Digital-marketing and video-gaming companies make up the bulk of the media sector in San Diego's tech market, Andrew Ewald, CBRE's VP and head of its tech and media practice in San Diego, explains to GlobeSt.com. After a recent report from the firm showed tremendous growth in the sector locally, we spoke exclusively with Ewald about the latest findings and how San Diego's media sector compares to that of other markets in California.
GlobeSt.com: What is your take on your firm's findings about the local tech sector?
Ewald: It is great to see the velocity of growth in the local tech-sector companies. Typically, our growth is from local companies that are expanding organically in San Diego, but recently we have also seen a tremendous amount of new companies that have relocated or expanded their business operations to the Sorrento Mesa area. The epicenter of the tech market is receiving global recognition, which is attracting a number of new companies to this market. From a real estate perspective, this growth is driving demand for quality class-A buildings that are rich with amenities, as well as unique, older product that is being converted into more creative and collaborative workplaces. As Sorrento Mesa continues to see growth in its tech community, the war for talent will continue to drive decision makers to demand quality building opportunities to recruit and retain. I expect to see this continued growth in this tech sector over the next 24 months.
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