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Office investors—including institutional capital sources—are showing a renewed interest in suburban office products. A strong local economy and with incentives from the recent tax reform are driving an expanded interest in office product. This is great news for the San Diego office market, which has a large supply of suburban office product. While sales volume has yet to return to the levels in the prior peak, this renewed demand should fuel sales activity through the end of the year.

“Similar to the vast majority of major US markets, trading volume in San Diego County, where 86% of the office inventory is located in the suburbs, has been sluggish over the past few years as capital has been focused on CBD opportunities and other asset classes–namely industrial and multi-family,” Brad Tecca, executive director of capital markets at Cushman & Wakefield, tells GlobeSt.com. “While overall office trading volume in San Diego continues to lag behind past peak levels, positive economic indicators in addition to new policies implemented by the current administration—namely tax cuts—has resulted in renewed interest by investors in suburban office opportunities.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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