Commercial Real Estate Report - San Diego, CA [Retail]

Property Type

Retail real estate finished 2012 on an even keel in San Diego, according to Reis, although market indicators were not spectacular. Reis reports the fourth quarter 2012 San Diego community-neighborhood center vacancy rate down 10 basis points from one quarter earlier and down 40 from one year earlier. Asking and effective rents for community-neighborhood shopping center space at up three cents and four cents, respectively, over the fourth quarter. The year-over-year gains are 0.9% and 1.0%. (3/8/13)

Boundaries

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Recent Sales New Construction Highlight Submarkets

Latest Quarterly Reports (Q1 2013)

San Diego, CA - Entire Metro
Submarkets
W San Diego Beach - C -30 bps
W San Diego Beach - NC -10 bps
Northeast County - C -10 bps
Northeast County - NC 0 bps
Northeast County - N 10 bps
Northwest County - NC 10 bps
South County - C 10 bps
Northwest County - C 10 bps
South County - NC 20 bps
Northwest County - N 30 bps
South County - N 30 bps
W San Diego Beach - N 40 bps

Recent Sales

Cap Rate Trend

Sales Trend

Q1
2013
Q4
2012
Q3
2012
Q2
2012
Mean 5.1% 7.6% 7.8% 7.4%
Median 5.6% 6.2% 7.4% 5.3%
12 Month Rolling 7.5% 7.4% 7.3% 6.7%

Commercial Real Estate News

Recent Rent Observations

Location ID Class Rent
South County 35128 $13
South County 09029 $22
Northeast County 35147 $21
South County 98787 $25
South County 35010 $16
Northeast County 87709 $20
South County 98683 $32
Northeast County 35011 $18
W San Diego Beach 35047 $24
Northwest County 35303 $11

Change From Previous Quarter

Market Rent Vac Inv
San Diego 0.1% 0 bps 0.0%
West Region 0.0% 0 bps 0.0%
United States 0.1% 0 bps 0.0%

Metro vs. Region 0.1% 0 bps 0.0%
Metro vs. US 0.0% 0 bps 0.0%

Latest New Construction Updates

Location Size
Northwest County 0 - 140,000
South County 0 - 140,000
South County 0 - 140,000
Northwest County 0 - 140,000
W San Diego Beach 560,000 - 0
South County 0 - 140,000
W San Diego Beach 280,000 - 420,000
W San Diego Beach 420,000 - 560,000
Northwest County 560,000 - 0
Northeast County 0 - 140,000
View all Construction Projects

National Retail Real Estate Trends

Vacancy Trends
Supply and Demand
Inventory Change
Inventory Change

Metropolitan Retail Rankings (Q1 2013)

Based on 190 U.S. Markets
Value:
4. Northern New Jersey, NJ 5.5%
5. Orange County, CA 5.5%
6. San Jose, CA 5.9%
7. Los Angeles, CA 6.1%
8. Honolulu, HI 6.2%
9. San Diego, CA 6.4%
10. Oakland-East Bay, CA 6.5%
11. Boston, MA 6.6%
12. Visalia, CA 6.6%
13. Manchester-Nashua, NH 6.8%
14. Suburban Virginia, VA 6.8%

Avg Annual Growth Rate (2013 - 2017)

Market Rent Vac Inv
San Diego 0.7% 670 bps 0.6%
West Region 0.3% 937 bps 0.6%
United States 0.3% 1,077 bps 0.7%

Metro vs. Region 0.5% -267 bps 0.0%
Metro vs. US 0.4% -407 bps -0.1%