San Diego Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Kidder Mathews, Cushman & Wakefield, CBRE, JLL, Colliers
Quarterly office market indicators for San Diego, aggregated by CREhunt from Kidder Mathews, Cushman & Wakefield, CBRE, JLL, Colliers. As of Q2 2026, average asking rent was $37.80/SF/yr and vacancy was 13.4%, per Kidder Mathews.
Projected current office pricing — San Diego
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for San Diego office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 multiple brokerages asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Kidder Mathews | $37.80/SF/yr | 13.4% | -172K SF | — | Kidder Mathews |
| Q2 2026 Cushman & Wakefield | — | 3.5% | -8K SF | — | Cushman & Wakefield |
| Q1 2026 CBRE | $41.88/SF/yr | — | — | — | CBRE |
| Q1 2026 Cushman & Wakefield | $41.76/SF/yr | 15.4% | -335K SF | — | Cushman & Wakefield |
| Q1 2026 JLL | $40.68/SF/yr | 14.2% | 41K SF | — | JLL |
| Q3 2025 Cushman & Wakefield | $45.84/SF/yr | 6.4% | 168K SF | — | Cushman & Wakefield |
| Q2 2025 Cushman & Wakefield | $40.68/SF/yr | 1.4% | — | — | Cushman & Wakefield |
| Q3 2023 Colliers | $11.78/SF/yr | 23.3% | 24K SF | — | Colliers |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each San Diego office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Carlsbad | $2.70/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Central County | $3.62/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Central San Diego | $3.78/SF/mo CBRE · Q1 2026 | CBRE, Q1 2026 |
| Central Suburban | $2.85/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Chula Vista | $2.92/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| College Area | $2.50/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Del Mar Heights/Carmel Valley | $4.75/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Downtown | $2.40/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| East County | $2.79/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Escondido | $2.37/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Governor Park | $3.21/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| I-15 Corridor | $3.14/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Kearny Mesa | $2.73/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| La Jolla | $3.89/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Mid City | $4.64/SF/mo Cushman & Wakefield · Q3 2025 | Cushman & Wakefield, Q3 2025 |
| Miramar | $2.32/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Mission Gorge | $2.04/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Mission Valley | $3.14/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| National City | $2.62/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| North Beach Cities | $4.45/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| North Cities | $3.83/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| North County | $2.92/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Oceanside | $2.98/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Off Campus | $3.90/SF/mo Cushman & Wakefield · Q3 2025 | Cushman & Wakefield, Q3 2025 |
| Old Town/Sports Arena/Pt. Loma | $2.74/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| On Campus | $3.61/SF/mo Cushman & Wakefield · Q3 2025 | Cushman & Wakefield, Q3 2025 |
| Otay Mesa | $2.96/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| PB/Rose Canyon/Morena | $2.71/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Poway | $1.99/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Rancho Bernardo | $3.42/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| San Marcos | $2.50/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Scripps Ranch | $2.98/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Sorrento Mesa | $3.20/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Sorrento Valley | $2.52/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| South County | $3.63/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South San Diego | $3.17/SF/mo CBRE · Q1 2026 | CBRE, Q1 2026 |
| Southwest Riverside | $2.21/SF/mo CBRE · Q1 2026 | CBRE, Q1 2026 |
| Torrey Pines | $3.83/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Uptown | $3.08/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Uptown West/Park West | $3.08/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| UTC | $3.85/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Vista | $2.45/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
Frequently asked questions
- What is the average asking rent for office space in San Diego?
- As of Q2 2026, the average asking rent for office space in San Diego was $37.80/SF/yr, per Kidder Mathews.
- What is the office vacancy rate in San Diego?
- The office vacancy rate in San Diego was 13.4% as of Q2 2026 (Kidder Mathews).
- Where does CREhunt's San Diego market data come from?
- This report aggregates quarterly office market data for San Diego from Kidder Mathews, Cushman & Wakefield, CBRE, JLL, Colliers.