Big Winners Will Be Those Who Repositioned Properties

May 29, 2017

San Diego --- Excerpts from midpoint 2017 assessments from local experts in the office segment:

 

John Turner

Regional Vice President

The Irvine Co. Owner and developer

 

First-half Take-aways: Companies are looking at real estate more than ever as an asset --- a tool to recruit and retain talent and a competitive advantage in a tight job market. They now view their offices as an extension of their brands. 

In addition to outstanding service, they want food options that cater to their needs and easy access to premium fitness and health services to help their employees work smart and live well. They are also taking advantage of outdoor meeting and gathering spaces.

In short, they want more from their workplace than ever before.

Second-half Outlook: We remain as bullish as ever about San Diego. We anticipate growth in the number and types of companies - large and small - in the market for smaller workspaces under 5,000 square feet.

We also expect to see a growing ecosystem of entrepreneurs who seek a collaborative workplace with like-minded people. As an example, we expect more companies to join and "graduate" from The Vine, our entrepreneurial ecosystem that has already incubated 140 companies, created 1,000 jobs and generated more than $1 billion in angel, venture capital and acquisition funding. 

 

Originally published on May 29, San Diego Business Journal

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