cushman & wakefield - sdbj 2016 economic trends
TRANSCRIPT
1
San Diego Office MarketEconomic Trends
Tom van BettenManaging Director Tenant Representation
San Diego Business Journal | Cushman & Wakefield 2
Market CycleThe vacancy for the entire office market in San Diego is 13.3% at year end, trending down.
San Diego Business Journal | Cushman & Wakefield 3
Market Update
+14%
San Diego Business Journal | Cushman & Wakefield 4
Notable Transactions
Vertex Pharmaceuticals
San Diego Business Journal | Cushman & Wakefield 5
Notable Transactions
ViaSat
San Diego Business Journal | Cushman & Wakefield 6
The Irvine Company - UpdateThe Irvine Company continues to focus on new development and reinvesting in its
current portfolio; adding amenities, remodeling lobbies and suites.
San Diego Business Journal | Cushman & Wakefield 7
The Irvine Company - Update
UTC • Rent growth of 4.5% over 2014, 58% increase since 2011• Currently over 92% leased• Only 1 full floor available in existing product Downtown • Rent growth of 12.7% over 2014, 23% increase since 2011 • Currently over 96% leased• Only 1 full floor available (leases out for signature)
San Diego Business Journal | Cushman & Wakefield 8
Qualcomm - UpdateMultiple Qualcomm lease expirations lined up well with layoffs, as Qualcomm will let over 250,000 SF of leases expire in Q1 2016. They also recently put additional space
on the market for sublease, and sold a building of 300,000 SF.
San Diego Business Journal | Cushman & Wakefield 9
Workplace Trends
San Diego Business Journal | Cushman & Wakefield 10
Workplace Trends
Less Distractions
San Diego Business Journal | Cushman & Wakefield 11
Flexible Office
Workplace Trends
San Diego Business Journal | Cushman & Wakefield 12
TvB’s Tips
Survey
THE MAIN 3
Sublease
Take Your Time
13
Tom van BettenManaging Director
Tenant Representation