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San Diego Snapshot

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San Diego offers affordable office rent compared to other California markets
  • San Diego has the lowest average asking office rents among key California office markets. This enables companies to have direct access to a highly talented and educated labor pool in San Diego while saving on real estate costs.
  • The San Diego
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Categories: Agency Leasing, Agency Leasing News & Trends, California, CRE, JLL, JLL Research, Leasing Activity, Office, Real Estate, Rents, San Diego, San Diego Commercial Real Estate, Tenant Representation, Tenant Representation News & Trends, Uncategorized.

Fewer bricks, more clicks, & virtual tellers: Five changes on the horizon for branch banks

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2017 Banking Email Header

The banking model of yesterday was all about the brand with the most locations—the “bricks”. Today, banks are measured by how effectively they deliver remote, anytime, anywhere access to their customers—the “clicks.”

The days of the bank branch being the most immediate and visible way customers interact with banks are long… Read More

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Categories: banking, Brokerage, Commercial Real Estate Trends, CRE, JLL, JLL Research, San Diego, San Diego Commercial Real Estate, U.S., Uncategorized.

Political posturing might not matter, but policies do

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Countdown to election 2016 20+ candidates, 22+ months of campaigning, 24 televised debates/ town halls and more than $1 billion spent and we are down to the last five days of the 2016 election cycle.

The past eight years have been filled with economic ups and downs, but in recent years, success has trounced challenges. GDP has grown by 15.4 percent since 2009, while 15.3 million jobs have been created since 2010 with… Read More

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Categories: Commercial Real Estate News, CRE, JLL, JLL Research, national, U.S., Uncategorized.

Chart of the week: How do old and new stadiums match up?

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The last time the cubs won the World Series was in 1908, when the jewel-box stadium design was at the height of its popularity. Since then, we’ve seen various eras of stadium design from classic elements to modern amenities.

cow-ws2106

  • Design matters –with the average stadium age today inching past 26 years, ballpark stadium designs
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Categories: Charts of the week, Construction, COW, CRE, JLL, JLL Research, national, Stadium, U.S., Uncategorized.

San Diego law firms remain conservative with their real estate

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2016 U.S. Law Firm Perspective - COVER

Despite rising rents in many U.S. markets, the legal industry can still find opportunities to improve real estate efficiency, according to JLL’s latest annual Law Firm Perspective.  The typical U.S. law firm has sharply reduced its office footprint by 22.2 percent, from an historical average of… Read More

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Categories: Agency Leasing News & Trends, Commercial Real Estate Trends, CRE, Downtown San Diego, JLL, JLL Research, Law Firms, Leasing Activity, San Diego Commercial Real Estate, Tenant Representation News & Trends, U.S., Uncategorized.

3 Connections to Google’s New San Diego Location

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COW_San Diego_Oct_13_2016 FINAL B

  • Google leased two floors at Cruzan’s Verge project earlier this year to facilitate a new San Diego presence. Google’s office appears to be strategically located near more than one of its local interests, and is also real estate that Google used to own during its first foray into making mobile
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Categories: Agency Leasing, Chart of the Week, Commercial Real Estate News, COW, CRE, High-tech, Innovation, JLL, JLL Research, Leasing Activity, Manufacturing, San Diego, San Diego Commercial Real Estate, Uncategorized.

September 2016 employment summary

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us-october-employment-update-2016-jll-1 September was relatively average, but fundamentals are steady
  • September saw 156,000 net new jobs created. While relatively average and not up to the consistent 200,000+ seen throughout much of 2014 and 2015, momentum nevertheless remains.
  • Monthly additions were brought down due to contraction in government and slowdowns in very large sectors such as
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Categories: Commercial Real Estate Investment Resources, Commercial Real Estate News, CRE, Employees, Employment, JLL, JLL Research, Job Growth, U.S., Unemployment.

San Diego Employment Update | September 2016

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sd_employment-update-sept-2016

Between August 2015 and August 2016, total nonfarm employment in San Diego County increased by 25,100 jobs, or 1.8 percent.

  • Government reported the largest year-over-year gain, adding 6,200 jobs, an increase of 2.7 percent. Local government accounted for 4,000 of those jobs
  • Leisure & Hospitality saw the largest growth by percentage with a 3.1 percent year-over-year increase.
  • Construction was the only sector to post a year-over-year
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Categories: Employment, JLL, JLL Research, Job Growth.