The San Diego retail market in the fourth quarter of 2014 did not experience much change in market conditions. The current quarter vacancy rate is 4.0% down from 4.1% from previous quarter. This trend is compared to the U.S. National Retail vacancy rate, which decreased to 6.1% from the previous quarter, with net absorption of positive 34.91 million square feet in the fourth quarter. Net absorption in San Diego was positive 297,492 square feet, and vacant sublease space decreased by 8,899 square feet. Quoted rental rates decreased from third quarter 2014 levels, ending at $22.53 per square foot per year.
Excerpts from the Article:
The San Diego retail market did not experience much change in market conditions in the fourth quarter 2014. The vacancy rate went from 4.1% in the previous quarter to 4.0% in the current quarter. Net absorption was positive 297,492 square feet, and vacant sublease space decreased by 8,899 square feet. In third quarter 2014, net absorption was positive 467,423 square feet.
Citation and link:
Summer, Justin. “Market Trend San Diego Retail Vacancy Remains at 4.0%.” CoStar News., 30 Jan. 2015 Web. 4 Feb. 2015. http://www.costar.com/News/Article/Market-Trend-San-Diego-Retail-Vacancy-Remains-at-40/168372