Industrial Market
The following presentation gives a detailed overview of the San Diego County Industrial Market.
Total inventory stands at 166.3 million square feet at a vacancy rate of 8.6%. Approximately 656,000 square feet was added to the market in 2008 (2009 QTD is approximately 806,000 square feet) and net absorption was negative by approximately 972,000 square feet in 2008 (2009 QTD is negative by approximately 2.8 million square feet). The countywide average monthly lease rate is $0.70 per square foot which is down by 9.7% since 2008.
The Central/Central Suburban submarket achieves the lowest vacancy rate of 3.9% and the North County West submarket achieves the highest average monthly lease rate of $0.93 per square foot. South Bay currently has the highest vacancy rate of 10.3% and the lowest average monthly lease rates of $0.54 per square foot.
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