San Diego’s industrial foundation is well balanced between high demand for logistics space from last-mile distribution and e-commerce tenants alongside demand for lab space within flex buildings that can accommodate the cutting-edge requirements of the region’s life sciences firms. After an initial pause of about one month following the outbreak in 2020, quarterly leasing volume has averaged more than 3 million SF of new leases, including a 15-year high of more than 4.5 million SF during Q2 21.
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