• Office-user jobs increased 13,400 or 4.2% year over year in San Diego.

• The average asking rate increased for the sixth consecutive year to $2.95 FSG, up $0.11 (+3.9%) from Q2 2017. Asking rates were higher in all major submarkets.

• Overall vacancy fell 60 bps quarter over quarter and 30 bps year over year to 10.6%, a level that hasn’t been reached post-recession.

• Net absorption was 565,087 sq. ft., the strongest quarter since Q4 2016. There were 21 deals greater than 20,000 sq. ft.

• There were 666,656 sq. ft. under construction as of Q2, a four-year high. The largest delivery was a 48,954-sq.-ft. creative office building in Carlsbad at 1800 Aston.