again, somebody just reading the headlines, but not the details. From the same article:
For much of the past year, demand for office space in the corridor has been weak.
The area’s office vacancy rate hovered near 20 percent in the second quarter – above the countywide average. The average amount of time that lease space has been on the market in the I-15 corridor area is 31 months, the highest in the county, said David Marino, a principal with tenant broker Irving Hughes.
“I-15 is a mess,” Marino said. “It’s a market that’s been tough for two years now. I don’t know where guys like Jay Paul think they’re going to find tenants.”
And here’s my personal observation: one of the buildings in that 3 building campus at I-15 and the 56 put up by Kilroy Realty was slated for none other than “NEW CENTURY MORTGAGE.”
OK empty buildings going up is not really bullish for the local economy. When those vacancy rates drop from 20% + down to 12-15% then we can talk about it.
I think it’s time to hit the 12-month snooze button on this topic.
OK empty buildings going up is not really bullish for the local economy. When those vacancy rates drop from 20% + down to 12-15% then we can talk about it.
I think it’s time to hit the 12-month snooze button on this topic.
OK empty buildings going up is not really bullish for the local economy. When those vacancy rates drop from 20% + down to 12-15% then we can talk about it.
I think it’s time to hit the 12-month snooze button on this topic.
Wow! That is already looking like a post-bubble price for a premium property. Now it looks like the post-bubble price may end up around $500K ($125/sqft). This is starting to resemble the S & L meltdown.
Wow! That is already looking like a post-bubble price for a premium property. Now it looks like the post-bubble price may end up around $500K ($125/sqft). This is starting to resemble the S & L meltdown.
Wow! That is already looking like a post-bubble price for a premium property. Now it looks like the post-bubble price may end up around $500K ($125/sqft). This is starting to resemble the S & L meltdown.
Just because they are building new buildings doesn’t mean they will be occupied. They are largely spec and San Diego has a lot of trouble enticing companies to move here when states like Florida and Texas offer huge tax incentives, cheap housing, etc. to companies.
Just because they are building new buildings doesn’t mean they will be occupied. They are largely spec and San Diego has a lot of trouble enticing companies to move here when states like Florida and Texas offer huge tax incentives, cheap housing, etc. to companies.
Just because they are building new buildings doesn’t mean they will be occupied. They are largely spec and San Diego has a lot of trouble enticing companies to move here when states like Florida and Texas offer huge tax incentives, cheap housing, etc. to companies.
