San Diego Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from CBRE, Cushman & Wakefield, Lee Associates, Colliers
Quarterly office market indicators for San Diego, aggregated by PropZone from CBRE, Cushman & Wakefield, Lee Associates, Colliers. As of Q1 2026, average asking rent was $41.88/SF.
Projected current office pricing — San Diego
low confidenceProjected asking rent
$27.12–$27.48/SF/yr
Estimated sale value
$340–$448/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Cushman & Wakefield data (cap rate 3.8%, asking rent trend-adjusted to today). Assumes ~95% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $41.88/SF | — | — | — | CBRE |
| Q1 2026 | $27.12/SF | 4.7% | 86K SF | — | Cushman & Wakefield |
| Q1 2026 | — | 4.0% | 1K SF | — | Lee Associates |
| Q4 2025 | $47.52/SF | 1.2% | 335K SF | — | Cushman & Wakefield |
| Q1 2025 | $43.05/SF | 10.2% | 5K SF | — | Lee Associates |
| Q3 2023 | — | 17.0% | — | — | Cushman & Wakefield |
| Q3 2023 | — | 14.3% | 1.7M SF | — | CBRE |
| Q3 2023 | $11.78/SF | 23.3% | 24K SF | — | Colliers |
| Q3 2019 | $36.00/SF | — | 2K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in San Diego?
- As of Q1 2026, the average asking rent for office space in San Diego was $41.88/SF, per CBRE.
- What is the office vacancy rate in San Diego?
- Vacancy data for San Diego office is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does PropZone's San Diego market data come from?
- This report aggregates quarterly office market data for San Diego from CBRE, Cushman & Wakefield, Lee Associates, Colliers.
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