• Asking rates were flat at $2.44 NNN, still the highest rate on record.
  • Net absorption was positive at 112,170 sq. ft., bringing year-to-date absorption to 295,442 sq. ft. and driving total vacancy down slightly by 10 bps to 4.3%.
  • Leasing activity decreased quarter over quarter to 507,240 sq. ft., causing total availability to remain flat at 6.5%.
  • A variety of new retailers, aimed at both low-income and high-income shoppers are set to open next quarter.
  • A wave of construction in Del Mar will bring an onset of upscale retailers in 2019.