X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

If anyone needs another sign of the strong industrial demand in San Diego, look to the construction pipeline. According to research from JLL, last year the San Diego market saw the largest number of new industrial deliveries since 2001. There were 15 projects delivered in the market, totaling 2.5 million square feet, close to the market record of 2.7 million square feet in industrial deliveries in 2001. Industrial demand has fueled the new development activity.

“A lack of supply in the market has driven new development in San Diego.  This is acutely evident in space larger than 100,000 square feet,” Andy Irwin, VP at JLL, tells GlobeSt.com. “Ten new leases were signed on buildings completed in 2018 or under construction. The largest transaction involved a 273,000-square-foot build-to-suit for Stone Brewing. With the robust leasing activity in 2018, we have very little supply of new space left countywide. Leasing activity has been very strong by companies in the ecommerce, logistics, and consumer products industry. Class-A industrial space has been in the highest demand prompted developers to scramble to meet this demand over the last two years.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.