After a second and third quarter of positive office space absorption, San Diego County went negative in the fourth quarter of the year, according to Colliers International.
Colliers reported 118,211 square feet of negative net absorption in the fourth quarter of 2009 -- with some 112,211 square feet of that being Class A space.
Class B and Class C space fared better, but even those were only able to muster 30,467 and 24,638 square feet, respectively, in the fourth quarter.
The fourth quarter may have been bumpy, but Colliers stated the county office market still managed to post 406,344 square feet of net absorption for all of 2009 and ended the year with a 16.5 percent average vacancy rate.
|