Current San Diego Warehouse Rates Q4 2014

Posted on January 18, 2015 ยท Posted in Trends

We recently updated our warehouse asking rates and here’s a look at how individual markets performed comparing asking rates at the end of Q3 to end of Q4.

Markets that increased

Out of the 17 markets we surveyed, 9 of them showed asking rent increases ranging from a few cents in Kearny Mesa and La Mesa to 25 cents in Sorrento Valley which was by far the largest gainer of any area. This matches what we’ve noticed recently in terms of leasing activity and we predict that rents will increase YoY by 7-8% across the San Diego area.

Carlsbad +0.10
Escondido +0.09
Kearny Mesa +0.05
La Mesa +0.05
Lemon Grove +0.13
Poway +0.16
Santee +0.13
Sorrento Valley +0.25
Spring Valley +0.12

Markets that decreased
While more than 50% of the markets saw rent increases, we did see decreases in the following three areas. The market fundamentals for each city remain strong so expect these areas to see their asking rates appreciate in the next update.

Chula Vista -0.10
Otay Mesa -0.08
Vista -0.02

Markets that didn’t change
These markets saw asking rents remain relatively stable over the last quarter of 2014 but I think that rents will begin to grow especially in Miramar and Oceanside.

El Cajon
El Centro
Mission Gorge

Check out our updated market information and if you’re interested in learning more about available warehouses in any of these markets, contact us today.