KEARNY MESA LANDING
San Diego, CA
LEADING CENTER FOR ENTREPRENEURSHIP
Over the last decades, San Diego has become one of the leading economies in the world, largely driven by major high tech industries such as the military and defense, telecommunications, genomics and biotech. A leading center for innovation and entrepreneurship globally, San Diego ranks fifth in the world for venture capital investment per capita. The region’s businesses and research institutes successfully compete for financing, at both the local and national levels, garnering the support of VC investors, having raised $1.4 billion in venture capital funding in 2015. San Diego County ranks second nationally in best return on investment in local public companies, according to CNBC, beating out the Silicon Valley.
Helping drive San Diego’s economy and tourism is it’s unique position on the West Cost and it’s superior accessibility. The area is served by the San Diego International Airport, which has more than 460 operations daily carrying more than 48,000 passengers each day, and more than 20 million passengers a year, up 7.0% from 2014. In addition to domestic flights, the airport directly serves numerous international destinations including Canada, the United Kingdom, and Japan.
PORT OF SAN DIEGO
The San Diego Port is the fourth largest of 11 deep water ports in California, and one of America’s top 30 U.S. containership ports, bringing in nearly 3,300,000 metric tons of cargo per year. The Port also has a main cruise facility located in Downtown San Diego with three cruise berths, home to several cruise lines such as Holland America, Disney Cruise Line and Royal Caribbean. With increased infrastructure and strategic export planning, the Port is working to increase their volume and provide additional economic impact to the region.
With a population of 3.2 million, San Diego County is the second most populous county in California. The City of San Diego is the largest of its 18 cities, with over 1.3 million residents. The County has one of the highest levels of educational attainment relative to other county’s in the state, with nearly 86% of the adult population having at least a high school diploma, and 35% of the population with holding bachelor’s degree or higher.
SAN DIEGO INDUSTRIAL/FLEX MARKET SIZE
The San Diego Industrial/Flex Market totals over 190 million square feet, which at the end of the third quarter 2016, had a vacancy rate of 5.2%. The market has experienced seven straight years of positive net absorption and posted approximately 850,000 square feet of positive net absorption in the third quarter of 2016.
KEARNY MESA SUBMARKET
Kearny Mesa is the largest submarket within the Central Suburban Industrial area. Centrally located between Interstate 805 and Interstate 15, the area represents over 65% of the entire Central Suburban Industrial Market. Kearny Mesa has experienced strong net absorption over the last three years including 28,354 thus far in 2016.