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SAN DIEGO-In a continuing trend that has plagued San Diego County’s usually healthy industrial market during the first half of this year, negative net absorption continues to rise along with the sector’s overall vacancy level.

San Diego County experienced 1,019,078 sf of negative net absorption in its industrial market this past quarter, according to a recent report published by BRE Commercial/NAI.

As a result of this negative second quarter activity, the total absorption figure for the first six months of the year is negative 1,621,810 sf. “Occupancy declined in every building type this year, with the exception of distribution, which posted the only positive net absorption of note, at 249,056 sf absorbed, year-to-date,” BRE Commercial/NAI’s researchers point out. And the overall industrial vacancy level increased 1% from quarter one to quarter two and now stands at 9%, the report adds.

Despite the continued rise in both negative net absorption and the overall vacancy rate, researchers at BRE Commercial/NAI have an optimistic outlook when it comes to the county’s industrial market. They say today’s overall vacancy level of 9% is “still fundamentally healthy when compared to the last five years’ average of 7.4%.” And “with more large tenants in the market and more leases being signed in the second quarter, positive absorption should manifest itself in the second half of 2003.”

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