The San Diego industrial market showed that since racking up occupancy gains of 700,000 square feet (sf) in the second quarter of 2019, it has seen some softening with two consecutive quarters of negative absorption, according to Cushman & Wakefield San Diego’s year-end report.
Nonetheless, 2019 still reported a respectable 475,000 sf of total annual growth, as the losses incurred during the year’s second half were minimal. In fact, the fourth quarter finished virtually even. Furthermore, 2019 marked the 10th year of positive annual occupancy growth, a span during which tenants absorbed 16.0 million square feet (msf) countywide.
As well, according to data obtained from Real Capital Analytics, indicative of investor demand for San Diego product, sale activity was still robust as deals $10 million+ reached $1.4 billion and 6.5 msf in 2019, a 45 percent increase in sales volume from $974 million in 2018. 2019 sales volume was the highest since 2007 when $1.7 billi
