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San Diego’s office market winning streak came to an end in 2020. After 10 years of straight positive absorption, the market posted negative 877,000 square feet in office absorption last year, according to a recent market report from JLL. Small businesses and users with less than 10,000 square feet of space drove the market losses.

“Of the 877,000 square feet of negative absorption, 88% of that was among tenants under 10,000 square feet,” Tim Olson of JLL tells GlobeSt.com. “That has happened across the country. Small businesses found that it was easier to move our of spaces and let this thing pass. That was the main crux of the negativity in the market. If you look at tenant demand and move-in/move-outs above 20,000 square feet in the county, there was actually positive absorption for the year.”

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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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