Asking rents on the rise, particularly in Class A space
In the second quarter of 2019, office rents increased in San Diego by 9.7% yearover-year, the highest increase in five years. Overall rent now stands at a five-year high of $2.98 per square foot (psf), reflecting a quarterly increase of 2.0%. Regional rents range from a low of $1.86 psf in the Highway 78 Corridor submarket, to $3.29 in Downtown San Diego. Class A rents are following a similar trend and have increased 8.4% year over year to $3.34 psf.