SAN DIEGO—Like the national average, the San Diego office market has seen rising asking rentalrates since 2012, but the velocity of this increase has nowsurpassed that of the national average, according to a report fromJLL. National rents increased 3.6% from the end of2016 to the end of 2017 and 23.8% since 2010, while San Diego saw a3.8% year-over-year increase and a 25.9% increase since 2010.
Vacancy has also improved over the national average. The reportfinds that national direct vacancy for office space rose 20 basispoints, while San Diego's dropped 40 basis points from 2016 to2017, while average asking-rent growth was very similar to that ofthe previous year.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
