1. Kearny Mesa Office
Real Estate Update
Congratulations to San Diego Municipal Kearny Mesa has an overall vacancy rate of 12.1% and had
Employees Association who has recently experienced negative absorption over the 3rd quarter of 2012
renewed their lease for an additional 5 of 145,000 square feet. However, year-to-date absorption
years. Their San Diego office is located at remains positive with 106,000 square feet absorbed. Much
9620 Chesapeake Drive, suite 200. The of the recently vacated space can be attributed to the
Cassidy Turley Team approached SD MEA downsize of AIG at 9350 Waxie Way and the move out of the
regarding an early lease renewal and was
Public Defender’s office at 8525 Gibbs Drive to the newly
able to save them tens of thousands of
completed County Operations Center on Overland Drive.
dollars 16 months prior to their existing
lease expiration date.
“Jeff Gilbert approached us with a
comprehensive plan to immediately reduce
our leasing costs and to extend our lease
term. His aptitude and knowledge of the
market has saved SD MEA huge sums of
money and I would highly recommend
him to any company to help with their real
estate needs.”
Michael Zucchet – General Manager
For more information, Many of the existing San Diego County office leases in
please contact: Kearny Mesa will be allowed to expire over the next 24
months which will continue to add vacant space to the office
market. Tenants will continue to have more opportunities
to take advantage of discounted rental rates and landlord
concessions.
The Cassidy Turley Tenant Advisory Team specializes in
helping businesses with their real estate needs. Their
Jeff Gilbert
858-625-5240 services comprise of office lease negotiations including
jeff.gilbert@cassidyturley.com renewals, new office locations, complimentary lease audits,
CA License 01849738 and property sales purchasing with over 45 years of combined
Cassidy Turley San Diego real estate experience. Please contact us today and let us
4350 La Jolla Village Drive, Suite 500
San Diego, CA 92122 help save your business money as a business or if you are
T (858) 546-5400 interested in purchasing help you purchase your own office
F (858) 630-6320
cassidyturley.com/sandiego space. K:_Personal MarketingGilbertNewslettersKearny Mesakearny-mesa_newsletter-2-copy.indd
