With the San Diego economy hurting like the rest of the country, it's no surprise that there is 14 million sq ft of empty commercial space in the city. From La Jolla to Downtown, the local economy in San Diego is trying to hold its own while the country makes their way through the worst recession in years. Finding a good deal on a San Diego Office lease is actually pretty easy nowadays because so many landlords and property managers have been forced to slash their rental rates. Start your office search with us, and let us help you find a monthly rental, a 6 month term, or even a 12 month lease. We have spaces that start at 100 sq ft and up, so call us today or check our properties online. If you are a newer company, or if your financial are not very stable, then try to avoid committing to a long term lease - say longer than 12 months. At this point, each company has started to explore different avenues and areas where it can improve its current business model by cutting costs, analyzing their budgets, and just making smarter decisions.
San Diego Commercial Office Vacancy Rates:
Right now the vacancy rate in San Diego is almost 25%, which is pretty high and abnormal - although not in these economic times. With a growing population of almost 1.4 million people in the San Diego area, it's no surprise that new companies and start up businesses choose San Diego as their home - even though the state income tax is near 9%. Basically 1 out of 4 sq. ft. of office space is vacant in San Diego right now and that's the highest it's been in over 10 years. As the residential housing market has come crashing down, so has the commercial real estate world - because first people lose their jobs and their homes, then that affects local companies that have no customers. If you need to figure out how many square feet you will need to rent, just check here.The 2nd half of 2009 has been a better situation overall for the San Diego local market, but experts say they think we are at least 2 years away from a full recovery.
Lease San Diego Office Spaces - Finding A Good Deal:
You can expect to pay about $2.50 a square foot for office space in San Diego at the moment, but that obviously depends on what local area you take space in. From Escondido to Carlbad, prices can vary as much as the weather does on a cloudy day - LOL. Typically if you lease a larger space, say something that is for 20 - 50 employees, then you will get a better deal. The same principle usually applies for companies that sign a long term lease (maybe 5- 10 years). When a building owner can sign a lease with a solid tenant for an extended period of time it takes a lot of pressure away from them. Other factors that determine an office price might be: how old is the unit (the newer the more costly usually), what amenities does the facility offer like parking, admin support, etc. You can find San Diego Office Space with us, and work with a local professional agent in our office. Our service is Free and we take a relaxed, non agressive approach to helping you find a spot. Another good way to find a great lease on commercial space is to speak with friends and local business owners who might be able to refer you to a local broker. A San Diego office lease can be offered at different rates due to the size of the office your customer selects and as well as the facilities being opted by the companies. Some of the facilities offered with San Diego office spaces include a modular kitchen, fully air-conditioned spaces, service rooms, etc.