Several move-outs and a lack of new deals drove net absorption negative and the vacancy rate to 6.1%.
COVID-19 has driven more retailers into bankruptcy, resulting in nationwide store closures that may impact the San Diego market.
The average asking rate fell $0.02 to $2.45 NNN as more spaces hit the market.
Giltner Realty Advisors broke ground on Arroyo Verde Shopping Center. The Strip Center will add 27,200 sq. ft. in Oceanside.