Author: David Marino
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What Business Leaders Need To Know About U.S. Office Markets In 2024
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By David Marino Four years post-Covid, most employers and employees are now living the new normal—they are remote, hybrid or distributed, working where they thrive and often coming into the office three or four days a week. Right now, many companies have no formal policy as to days in the office, and most companies are…
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The fourth quarter of 2012 ended with a continued positive market recovery, which is now entering its third-year. 1.18M square feet of office, flex/lab, and industrial space was absorbed in Q4, which is the strongest quarter on record since 2005. 2012 ended with a combined office, flex/lab, and industrial total of 2.72M square feet of net absorption, which is a…
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2012 was the best year in the commercial real estate market since 2006. The year closed out the second year of what is going to be a long and drawn-out commercial real estate recovery. On the heels of absorbing (net square footage leased) 1.96M square feet of office, lab/flex and industrial space in 2011, San Diego County absorbed another 2.72M…
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The biotech and biofuels industry are critical employers in San Diego and contribute to high paying jobs in the region. The industry goes back decades to the non-profit Torrey Pines research institutes such as The Scripps Research Institute, The Salk Institute, Sanford Burnham and UCSD. These research organizations are responsible for spinning out many companies, and are the heartbeat of…
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We have all learned that regional weather forecasts can be useless when talking about the “microclimate” of your own neighborhood. A “mostly sunny” weekend forecast doesn’t mean much when a storm rains out your kid’s soccer game. The same analogy applies in the commercial real estate market. Regional lease rates and occupancy trends provide a useful backdrop, but it’s vital…
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The San Diego regional commercial real estate recovery is tracking positively along with the long, slow broader national recovery. With the exception of downtown, we are entering the third year whereby commercial real estate statistics turned positive, beginning back in Q4 of 2010. Total availability in the region continues to shrink, with another 375,000 square feet of net space coming…
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The best way for a commercial real estate tenant to get value and low cost has been to find a good sublease. In fact we have a few clients that just move from sublease to sublease, every other year finding the cheapest deal they can. However with the improving economy and commercial real estate market, the days of the cheap…
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David Marino has the hottest office space in San Diego. The commercial real estate broker moved his firm, Hughes Marino, into the old San Diego Magazine building in December, after transforming it into an employee’s dream. The downtown building, which cost close to $5 million to acquire and renovate, is so jaw-dropping that almost every local publication has written about…
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2012 is shaping up to be the recovery year that we forecasted it would be. At the beginning of this year, Hughes Marino forecasted 2012 would peel 2M square feet of net square footage off the market. In the 2nd quarter, 979,000 square feet of office, lab and industrial space came off the market in San Diego County. Year to…
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In reading media headlines, it’s hard to decipher if the economy is recovering, slowing or heading for a “double dip.” Part of the problem behind the headlines is that it’s an election year, and there is tremendous political spin that distorts the reality of how things really are. Further, government economic data looks backwards in the economy, versus having good…
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As the commercial real estate market tightens countywide, across all product types (but particularly in larger blocks of space over 50,000 square feet and the Class A office market), tenants need to adapt their thinking when they are looking to lease or purchase new space for their businesses. Having experienced the ups and downs in the San Diego commercial real…