Bugs
I am in a light industrial facility in Miramar area – Nancy ridge, renting it from the owner directly 3500sft, as I am needing more space, I am trying to work with the landlord in exiting the lease and getting into a bigger space, My realtor is telling me that I should have no trouble finding a tenent to sublease the space in 2 to 3 months at around 1$ a sq foot and most light indistrial in that area are renting for 1 to 1.25 a sft.
I am finding it hard to believe the above as I got into the lease around 1.5 years ago when the vacancy rate in the area was as low as 3% and I got this space for 90 c a sq foot, when CRE is tanking, how come my agent tells me that rents are up compared to a year ago. especially in a dump like miramar – nancy ridge. Well, it also happens to be an area of easy access for most of my employees who are unskilled and make a small fraction of the usual san diego 100 to 300k salaries.
Can you throw some light on the light industrail market in the miramar area. I would like to relocate the business to the east side of i15 around carrol rd, in the future
Also what is happening in the Rancho Bernardo area in the LI market
thanks
