The demand for office space in North San Diego County is increasing due to the lack of available inventory. North Del Mar to Carlsbad has some of the highest asking rents for medical office space in San Diego County “Countrywide average rent is $2.54 per square foot, while North County is asking $3.41 per square foot.”. As the coastal areas fill up, businesses will have to look further east to find more reasonably priced office space.
Excerpts from the Article: At a recent economic summit in Carlsbad presented by San Diego North Economic Development Council, other experts said North County has outpaced the rest of San Diego County and the nation when it comes to the growth rate for higher-skill jobs during the past five years. That generally means higher office, industrial and laboratory space requirements for the industries employing those workers and expanding their local operations.
North County demand is being fueled by industry clusters that are growing in stature as they create new jobs. However, the region faces challenges for maintaining growth, including educating a workforce better trained in science, technology, engineering and math — the skills required to succeed in industries with the higher paying jobs.
Citation and Link: Hirsh, Lou. “North County Clusters Spurs Property Demand.” San Diego Business Journal. 13 Mar. 2015 http://www.sdbj.com/news/2015/mar/13/north-county-clusters-spur-property-demand/?page=1&
Picture and Link: “Historical Office Sale Listing.” 25 Feb. 2015. “Loopnet.” 12 Jun. 2013 http://www.loopnet.com/Listing/19050308/6183-6185-Paseo-Del-Norte-Carlsbad-CA/