Strong Leasing Activity Reported in R&D; Buildings

Leasing activity at San Diego’s industrial and research-and-development buildings was strong in the third quarter, according to a new survey by the commercial brokerage firm Grubb & Ellis.

The survey said 883,000 square feet of space was absorbed during the quarter, pushing absorption in the first nine months this year to about 2.9 million square feet. The brokerage firm said total absorption this year should reach a record 3.17 million square feet, a 22% increase over a year earlier.

Industrial space in the area is currently 94% leased, the survey said. Research-and-development space is 69% leased, up from a first-quarter low of 60.4%.