• The overall asking lease rate increased for the eighth consecutive quarter to $3.09 FSG, the highest asking rate this cycle.
     
  • The unemployment rate fell 20 bps from the previous month to 3.4%, 10 bps below the August 2018 rate and the lowest Q3 rate since 1999.
     
  • Total vacancy fell 10 bps to 10% in Q3 2019, 20 bps above the previous year. Class A vacancy declined to 11.5%, down 70 bps year over year.
     
  • Cubic Corp. broke ground on a new corporate headquarters in Kearny Mesa, representing a rarity of construction activity in the submarket.