Research

"Net absorption remained positive for the quarter, with 500,000 square feet (sf) of occupancy gains driven by the University of Maryland Medical System’s 400,000-sf build-to-suit project at Tradepoint Atlantic."

"The start of the year was marked by several major deals, including a 900,000-square-foot lease by Invenergy and a 700,000-square-foot lease by Anduril."

"San Diego opened 2025 with positive net absorption, reversing the significant negative absorption recorded in 2024. Vacancy is plateauing at 7.9%, and market fundamentals are improving, though uncertainty surrounding tariffs may stifle short-term demand."

"Leasing volumes have remained steady in four of the past five quarters, each surpassing 800,000 square feet (sf)"

"Even with slower leasing activity and new property additions, tenantdemand has remained strong, resulting in upward pressure on askingrents"

"Class A availability rate rose for the thirteenth consecutive quarter, increasing 330 basis points (bps) year over year"

"At 566,000 square feet (sf) leased in the first quarter, deal volume was down slightly from year-end 2024 but rose sharply compared to Q1 2024"

"Availability of 23.8%, up 340 basis points year over year, along with elevated sublease options and ongoing landlord refinancing pressures, continues to drive tenant favorable conditions"

"The market continues to favor premium office space in the CBD, underscoring sustained demand for high-quality environments that meet the expectations of discerning tenants"

"Leasing activity reached 0.7 million square feet (msf) in Q1, a 67.1% increase from Q1 2024"