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Tuesday, Nov 29, 2022
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San Diego Ranks Fifth in National Retail Market Report

San Diego placed fifth in the latest annual report by commercial real estate services provider Marcus & Millichap Inc., ranking the nation’s strongest retail property markets.

San Diego moved up one spot from its sixth-place ranking in the company’s 2014 National Retail Index report, rating the nation’s 46 largest retail markets.

Intended as a guide for nationwide retail property investors, company officials said the rankings are based on supply-and-demand factors including forecast employment growth, property vacancy, construction and rents.

Marcus & Millichap researchers said San Diego County’s retail vacancy is expected to retreat below the pre-recession level this year, finishing 2015 at 3.6 percent. The average asking rent is forecast to rise 4.4 percent, to $23.52 per square foot by year’s end, as development activity brings 350,000 square feet of new space online.

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The top four metro markets in the latest rankings were San Francisco, New York City, San Jose and Austin, Texas.

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