Average Asking Rent (Price/SF/Mo)	$3.19
Vacancy Rate (%)	14.2%
Net Absorption (SF)	-532,091

Landlords maintained higher asking rents in the face of slower economic activity as the average asking rent climbed to $3.19/SF, up from $3.17/SF last quarter and up 7.5% over the past year. Rents are expected to bow to pressure from increased vacancy and decline next year.

DOWNLOAD SAN DIEGO OFFICE MARKET REPORT 4Q20

San Diego Industrial Market

Average Asking Rent (Price/SF/Mo)	$1.14
Vacancy Rate (%)	5.8%
Net Absorption (SF)	-182,691

The Port of San Diego recently completed a three-year, $24.0-million upgrade to the Tenth Avenue marine terminal to increase overall cargo capacity, from 3.0 million to 4.6 million tons per year, and enable the delivery of specialty shipments, like oversized vehicles, military equipment, massive wind turbines and shipbuilding materials for San Diego’s nearby shipyards. Along with the National City marine terminal, the Port of San Diego currently contributes more than $10 billion to the regional economy, primarily from the import of foreign goods.

DOWNLOAD SAN DIEGO INDUSTRIAL MARKET REPORT 3Q20