September 24, 2015 Comments Off on San Diego Medical Office Vacancy Drops Views: 480 California News, Connect Classroom, Healthcare News, Medical Office Building, San Diego

San Diego Medical Office Vacancy Drops

The San Diego medical office sector saw vacancy rates fall rather significantly year over year during the second quarter, according to a JLL report. Vacancy rates stand at 8.7 percent, down from 10.3 percent during the same time a year ago.

For San Diego medical office class A space, vacancy is a paltry 6.4 percent, and that is now drawing more tenants to settle for class B properties. At the same time, landlords are sprucing up those B buildings to attract desirable tenants.

A major reason for San Diego medical office’s tight vacancy rates is lack of new development. During the first half of the year, there was no medical office construction on a facility larger than 30,000 square feet.

Read More at JLL

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