Office Leasing in San Diego Accelerates

Office leasing activity in San Diego gained momentum during the third quarter of this year and may set records in four county areas, according to a study by Grubb & Ellis Commercial Brokerage Services.

Those areas are downtown, Kearny Mesa, University Towne Centre and Mission Valley, with downtown topping the list with just over 297,000 square feet absorbed in the first three quarters after a slow start.

“If this steady activity continues, 1985 could be downtown’s second best year ever, with slightly more than 400,000 square feet absorbed,” according to Grubb & Ellis downtown leasing agent Bill Johns.

Kearny Mesa absorbed 216,000 square feet in the first half, compared to 219,000 in all of last year, and 79,132 more in the third quarter. Year-to-date absorption in University Towne Centre is 241,295 square feet and in Mission Valley, 217,000 through the third quarter.