San Diego Corridor--development bright spot

from this afternoon's GlobeSt (9/15):

Last updated: September 12, 2008 09:33pm

I-15 Corridor Leads San Diego County
By Bob Howard

"SAN DIEGO-All of its neighboring submarkets have registered negative activity thus far this year, but the I-15 Corridor has managed to absorb 188,589 sf of office space during tough times economically and a generally flat-to-down trend in leasing throughout San Diego County. News of the performance of the Interstate 15 Corridor-- which is the main north-south artery--is painted as a "growing bright spot" in a Cushman & Wakefield Inc. report.

The just-released C&W report shows the I-15 Corridor led all areas of the county with its direct positive absorption. The next best-performing area was Carlsbad with 119,416 sf of positive absorption. All other submarkets reported negative activity "as the county continues to adjust to corporate belt-tightening in the wake of slower economic growth," the C&W team says.

Among the high-profile tenants taking space in the corridor are Sony, Yahoo! and the Paradigm Group, all of which are expanding their San Diego presences with locations at the Point in Rancho Bernardo. Chase Manhattan has reaffirmed its commitment to the area by renewing its 127,000-sf lease in Bernardo Heights Corporate Center." ...

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