In 2009, the gap in industrial vacancy rates between San Diego County’s outmost submarkets and most central markets was 1,460 basis points. While Kearny Mesa and Miramar’s combined vacancy rate decreased 56.5 percent since 2009, the combined vacancy rate for Oceanside and Otay Mesa has decreased a whopping 64.2 percent. That gap is now down to 470 basis points.
At the outermost parts of the county, Oceanside and Otay Mesa have room for growth. Currently 72.5 percent of the industrial buildings under construction are in these two submarkets.