In the first quarter of 2021, sublet space in San Diego’s office market climbed to the highest rate in over 15 years, according to a recent report by Kidder Mathews. The report shows that over the past 12 months, sublet availability has increased by 44 percent, with approximately 2.4 million square feet of space currently available.
Jeff Gilbert, vice president of Kidder Mathews’ San Diego office division, said this is largely due to the many employees continuing to work from home, and that this increase will likely begin to slow down as the COVID-19 vaccine continues to roll out across San Diego.
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