SAN DIEGO—Asking office rates in San Diego County rose to anall-time high in the market, causing the largest quarterly jumpsince Q4 2015 as tenants are willing to pay a premium forwell-appointed space in prime locations, says CBRESVP Matt Carlson. According to a report from thefirm, average asking rates increased from Q2 to Q3 to $2.92full-service gross—the highest ever for San Diego County—anincrease of 2.6% quarter-over-quarter and 4.6% higheryear-over-year.
The rise in rates didn't seem to affect office vacancy at all,with vacancy remaining flat for the quarter at 11% and netabsorption at 97,729 square feet, marking five straight quarters ofpositive net absorption.
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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.
