Lee & Associates - North San Diego County | Industrial Report Q2 2015
SECOND QUARTER SUMMARY: According to Costar, the San Diego Industrial market ended the second quarter 2015 with a vacancy rate of 6.0%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 614,728 square feet in the second quarter. Vacant sublease space decreased in the quarter, ending the quarter at 509,852 square feet. Rental rates ended the second quarter at $0.96, an increase over the previous quarter. A total of one building was delivered to the market in the quarter totaling 56,862 square feet, with 1,297,909 square feet still under construction at the end of the quarter.
The Lee & Associates North San Diego County’s five focal cities (Carlsbad, Escondido, Oceanside, San Marcos, Vista) saw similar trending results, with decreased vacancy and increased rental rates in Q2 of 2015.