Regions West | San Diego
San Diego Retail Remains Positive
July 10, 2008

The retail outlook in San Diego remains positive, despite a near-term local housing downturn that will weigh heavily on retail spending in the next few months, according to a second-quarter Retail Research Report by Marcus & Millichap. San Diego’s tourism base will support retail demand as the weak dollar encourages many Americans to forgo foreign travel and choose domestic locations instead this year. Builders are expected to complete 880,000 square feet of retail space in 2008, up from 780,000 square feet in 2007. Vacancy is forecast to end the year at 3.8 percent. Asking rents are on track to increase 1.8 percent to $29.43 per square foot. Effective rents will inch up 1.4 percent to $26.66 per square foot. The educational and health services sector has grown 2.3 percent with the addition of 3,000 new hires during the past 12 months.

 
Recent San Diego Headlines
Storm Properties Sells Industrial Portfolio for $52M
Oct. 03, 2008
Storm Properties sold approximately 545,000 square feet of its industrial real estate portfolio to TA Associates Realty for more than $52 million. A total of 13 industrial properties located in Los Angeles and San Diego counties were sold.
torrey pines HCP Completes Integration of $3B Slough Portfolio
Oct. 01, 2008
About six weeks after concluding its offering of 14.95 million shares of common stock, Long Beach-headquartered HCP Inc. has completed the integration of its $3 billion acquisition of Slough Estates USA Inc. that closed in August 2007. The Slough portfolio is primarily located in San Diego and San Francisco, two of the three largest life science clusters in the country.
University Takes 48,300 SF of Biotech Space in San Diego
Sept. 26, 2008
A 48,200-square-foot biotech research building at 3525 John Jay Hopkins Court in San Diego has just been leased by the University of California San Diego.
DiamondView Tower Wereldhave USA Buys San Diego's DiamondView Tower for $161M
Sept. 18, 2008
Wereldhave USA, a unit of a Dutch real estate property company, now owns the only two Class A, high-rise office towers to be built in downtown San Diego in the last 17 years after acquiring the 15-story DiamondView Tower for $161 million.
Clark Snags Deal for $79M University Housing Project in San Diego
Sept. 11, 2008
The University of California San Diego has tapped Clark Design/Build of California Inc. to handle he design/build responsibilities for its North Campus Housing Phase 2 project. The mixed-use development will accommodate 800 students and will also feature a retail component. Ground is on target to break on the project in July 2009, about a month after the completion of Phase 1.