Monthly Archives: January 2014

Q4 2013 Asking Rental Rate Barometer

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This quarterly JLL report compares San Diego’s office submarkets to their year-over-year average asking rental rate changes as well as their percentage change from historic peak rents. Highlights include:

  • Sorrento Valley experienced the largest growth in year-over-year asking rental rate
  • Rose Canyon/Moreno experienced the largest decrease in year-over year asking rental rate
  • Torrey Pines has reached rental rates that are closest to its peak level
  • Mission Gorge rental rates are farthest from its peak level

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JLL’s Cities Research Center offers new insights in new City Momentum Index

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City Momentum Index - First Quarter 2014 JLL’s Cities Research Centre just launched a new index to provide new insights to clients interested in evaluating city competitiveness and the role of real estate in those cities. The City Momentum Index tracks the speed of change of a city’s economic base and its commercial real estate market, combining measures of short-term economic and… Read More

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Tenant leverage slipping across the U.S. in 2014

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In 2013, the U.S. office sector handed in its best performance in seven years. Leasing activity increased, absorption neared 40 million square feet and vacancy dipped to its lowest point since 2007. As a result, landlords across the U.S. lowered concessions and consistently pushed pricing upward throughout 2013.

As 2014 progresses, tenants can expect to see their leverage evaporate. The lack of new development options across the majority of markets signals the landlord-friendly environment could… Read More

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Recovery continues with measured improvement of office market fundamentals in 2013 Q4

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JLL’s 4th Quarter San Diego Office Highlights, Insight and Market Statistics Report confirms the office market is stabilizing and gradually strengthening as we head into 2014.

According to JLL’s 4th Quarter Office Statistics Report, San Diego’s office market fundamentals remained relatively flat over the 4th quarter with direct vacancy rates experiencing an incremental dip to 13.8 percent while overall vacancy was 14.6%. Rents countywide are hovering around $2.17 per square foot full service gross per month,… Read More