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SAN DIEGO-Despite fears over rising oil prices, the economy isbooming, helping drive the need for industrial space, according toat least one analyst. George Gramm, VP of client services withGrubb & Ellis/BRE Commercial, points to "more than 1.3 millionsf of industrial space being absorbed in the first quarter of 2006"as evidence of the sector's continued strength.
Space eaters such as Biosite Inc. and LabCorp are setting thesector "on pace for a record year in San Diego County," accordingto Gramm. So far in 2006, Biosite set the standard with its350,000-sf corporate headquarters deal in the Sorrento Mesasubmarket.
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