San Diego tech companies have remained active through the pandemic. According to a new report from CBRE, tech companies in San Diego leased 6.8 million square feet of space in the second quarter, a significant increase of 58% compared to the leasing quarterly average in 2019. San Diego was one of only three markets in the US to see an increase in tech leasing in the second quarter.

"San Diego experienced strong activity in the tech sector through 2019, and the start of 2020 has given San Diego good momentum through the pandemic. Our abundant labor pool coming from the major universities helps those businesses to grow. Large users have continued to look at San Diego as a valuable location and can see beyond the pandemic," Andy Ewald, first vice president in CBRE's San Diego office, tells GlobeSt.com.

Washington DC and Atlanta were the only two other markets to see an increase in tech leasing activity. For San Diego, the mix of tech companies helped to drive activity. "San Diego has unique concentration and mix of businesses that leverage one another," says Ewald. "Technology companies have become integrated into all other San Diego businesses such as Defense, Life Science, and e-Commerce. This helps to support the continued growth of tech related companies as they are integral to servicing other types of businesses. San Diego is also a great place to work, and companies can find highly skilled labor that is typically slightly cheaper than other core markets like Seattle or the Bay Area."

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.