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Office leasing for Sorrento Valley/Mesa is dominated by innovation industries, while Del Mar and UTC financial services are robust/1022/san-diego-7-9-18-inovation-industries-dominate-office-leasing<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-browsing-a-tablet-and-touching-screen-with-finger-outdoors-jll.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1022/san-diego-7-9-18-inovation-industries-dominate-office-leasingOffice leasing for Sorrento Valley/Mesa is dominated by innovation industries, while Del Mar and UTC financial services are robustOver the last five years, the financial services industry, which comprises of insurance and real estate, as well as banking and financial services, was a robust driver of the office market, particularly in the UTC/Eastgate and Del Mar Heights submarkets.
San Diego County’s asking rents and development are up for the bulk of all property types/982/san-diego-6-11-18-county-key-market-indicators<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/abstract-steel-industrial-office.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/982/san-diego-6-11-18-county-key-market-indicatorsSan Diego County’s asking rents and development are up for the bulk of all property typesThroughout San Diego, all commercial real estate property segments have seen an increase in average asking rents year over year.
San Diego County unemployment rate drops to an 18 year low at 3.2 percent /956/san-diego-5-29-18-unemploymnet-rates-drop<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-meeting.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/956/san-diego-5-29-18-unemploymnet-rates-dropSan Diego County unemployment rate drops to an 18 year low at 3.2 percent In the first quarter of 2018, San Diego County hit an 18 year low unemployment rate of 3.2%.
While overall asking rents are still on the rise, Class B started the year off continuing to outperform Class A/920/san-diego-5-14-18-class-b-outperforming<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-prospective-view-modern-skyscrapers.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/920/san-diego-5-14-18-class-b-outperformingWhile overall asking rents are still on the rise, Class B started the year off continuing to outperform Class AThe last two years are bucking the historical trend for Class A demand, indicating why average asking rents are flattening out for Class A since demand has come mostly from the Class B segment.
Q1 life science venture capital funding totaled nearly half of 2017’s record total; highest quarter in over 5 years/890/san-diego-4-30-18-life-science-venture-capital-funding<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/Lifesciences-lab-worker-microscope.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/890/san-diego-4-30-18-life-science-venture-capital-fundingQ1 life science venture capital funding totaled nearly half of 2017’s record total; highest quarter in over 5 yearsRobust funding is a crucial lifeline to the growing life science industry, supporting innovation and research fundamentals.
Education & Health Services labor force have seen the largest growth in the last decade/857/san-diego-4-16-18-education-and-health-services-labor-force<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/doctor-patient-smiling-women.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/857/san-diego-4-16-18-education-and-health-services-labor-forceEducation & Health Services labor force have seen the largest growth in the last decadeSan Diego County’s unemployment rate for February 2018 was at 3.5 percent, 1.6 percentage points lower than 10 years ago at 5.1 percent.