• Apple leased a full building in UTC and will add 1,000 jobs over the next five years.
  • Office-users added 13,400 jobs year over year and accounted for 50.8% of all job growth in San Diego.
  • Asking rates were up 2.6% from 2017; Downtown and Mission Valley’s rates increased the most. Class A space commanded higher asking rates.
  • Vacancy fell 100 basis points (bps) year over year to 10.2%. Class A vacancy dipped below 12.0% for the first time since 2014.
  • Year-to-date net absorption outpaced 2017 with positive 1,035,152 sq. ft. Q2 and Q3 were the strongest quarters for net absorption in 2018.