SAN DIEGO-If new tenants aren’t beating down the door, the general rule is to keep each and every bird you have already in hand. In that vein, Westcore Industrial Properties this week says it has inked two renewal leases worth a combined $700,000.

Circaid Medical Products Inc. inked a 69-month renewal for 4,946 sf of industrial space at 9323 Chesapeake Drive, Suites B2 and C1, in the 84,000-sf Westcore Corporate Center, a four-building development in Kearny Mesa. The company is using the space for general offices, warehousing and research and development for medical products. The total consideration for the lease is $405,077. Both parties represented themselves.

In San Diego, TRS Consultants, a land use consulting firm, signed on for another five years in its 3,132-sf flex-office space at 7867 Convoy Court, Suites 301 and 312, in the 47,000-sf Westcore Executive Park, a four-building development. The space will be used for general office and administration. Total consideration was $292,000. Both sides in the transaction represented themselves.

Despite the focus on renewing existing tenants, there have been some new ones out and about during the second half of the year. San Diego County’s industrial market saw 900,000 sf of absorption during the third quarter, according to Burnham Real Estate Services. Year-to-date, the figure is closer to 1.5 million sf, putting it on track to surpass last year’s 1.6 million sf of net absorption.

This has some believing that San Diego’s industrial market is already on the mend, well ahead of the national recovery slated for mid-2003.

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