• Average asking rates fell $0.02 quarter over quarter, but was up $0.01 year over year to $2.45 NNN, the third highest rate on record.
     
  • The vacancy rate has been below 5.0% for nine straight quarters, settling at 4.8% in Q3.
     
  • Large move-outs and few large new leases led to (219,259) sq. ft. of negative net absorption, concentrated mostly in North County and SW Riverside.
     
  • The bankruptcy of Forever 21 will likely impact at least three stores in San Diego, pending potential renegotiations of existing leases.