Q3 Market Update Sees Asking Rents Slide in Many Areas

Posted on November 17, 2014 ยท Posted in Trends

We recently refreshed our market data and surprisingly we saw average asking rates decrease in 11 of the 17 markets that we surveyed. In fact just four of the 17 markets saw asking rates increase and current and prospective San Diego warehouse tenants should definitely take note and look for space now before rates naturally increase.

The markets with the greatest increases were El Cajon which saw rates rise 21 cents to XYZ as well as El Centro which saw rates grow 19 cents to XYZ. Some of the asking rate increases in both markets can be attributed to decreased availability and lower price space being leased and thus taken off the market.

The areas that saw the greatest declines in average asking rates were Escondido which fell nine cents to XYZ and Oceanside whose rates fell 7 cents to XYZ. The two markets where rates remained constant were Kearny Mesa and Spring Valley which is surprising given the amount of overall movement in the market.

For more information on any of these markets, contact us today and get a detailed report.

Unchanged Asking Rates

Kearny Mesa UNC
Spring Valley UNC

Asking Rates Increased

El Cajon +0.21
El Centro +0.19
Lemon Grove +0.03
Sorrento Valley +0.1

Asking Rates Decreased

Carlsbad -0.05
Chula Vista -0.1
Escondido -0.09
La Mesa -0.1
Miramar -0.02
Mission Gorge -0.03
Oceanside -0.07
Otay Mesa -0.02
Poway -0.06
San Marcos -0.02
Vista -0.03