| |
|
Economic woes continued to plague demand for industrial/R&D space throughout San Diego County during Q1 2009. After over 913,000 square feet of space was returned to the market in Q4 2008, the negative absorption trend continued in Q1, but at a pace about one-third of Q4’s negative demand. If this trend continues at -- or even slightly below -- Q1 net absorption levels, 2009 could experience the lowest demand in the last two decades.
Combined industrial / R&D net absorption totaled -313,231 square feet. Although the largest deficit was created by move-outs in Q4 2008, depressed demand continued into Q1.
Vacancy increased by 0.6% to stand at 9.7%. The industrial and R&D vacancy components were at 8.7% and 12.1%, respectively.
In Q1, 879,686 square feet was completed. With an additional 121,465 square feet under construction, only 1.0 million square feet will be completed in 2009.
Contact Chris Reutz at 858.677.5385 for more information.
  San Diego Knowledge Report - Industrial - 2009Q1.pdf
Email Report Link To Your Friend
|
|