Last year ended much like it began in San Diego, with low office leasing volume. Leasing activity stumbled at the end of 2023 with only 1.2 million square feet of new leases signed during the fourth quarter. Although that metric could rise following some lingering lease deals pending collection by CoStar research, it represented the lowest quarterly leasing volume in 2023 and could match the lowest level since 2020. Market participants expect that 2024 will be much the same as it was last year.
Office Demand in San Diego Unlikely to Rebound in 2024
Low Levels of New Leasing Activity Expected Throughout Year
By Joshua Ohl
CoStar Analytics
January 17, 2024 | 3:31 P.M.
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- Properties
- La Jolla Commons
4727 Executive Dr, San Diego, CA