Skip to Content
The Big Picture San Diego Blog


real estate

May 31, 2017

According to EDC’s newly released Quarterly Economic Snapshot, the region added 29,600 jobs year-over-year, a 2.1 percent increase in total employment since Q1 2016. However, the San Diego region saw a quarterly decline of 10,900 jobs, primarily due to seasonal workers transitioning out of retail following the holiday season.

Meanwhile, San Diego’s unemployment rate rose by 0.1 percentage points during Q1 2017, but is 0.7 percentage points lower than the same period a year ago.

Key findings from the snapshot:

  • San Diego closed Q1 2017 with an unemployment rate of 4.2 percent, the 14th lowest among top U.S. metros and below the nation’s and state’s rates of 4.6 and 5.1, respectively.
  • The construction sector saw the largest quarterly and year-over-year growth in employment, adding 2,800 and 5,700 jobs, respectively – indicative of the overall health of the economy.
  • The median home price fell 0.7 percent from the previous quarter, but is still up 5 percent compared to a year ago.
  • VC dollars in the region increased 15.2 percent compared to the previous quarter.

Kirby Brady, San Diego Regional EDC research director, explains, “A small uptick in unemployment and slowing home price appreciation are to be expected in the winter months. However, when you look at the overall trends, San Diego appears to be reaching full employment and real estate remains a seller’s market. If these trends continue, we’ll start to see wages rise.”

The Quarterly Economic Snapshot analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This releases includes data from January to March (Q1) 2017. 

Read it here.

August 25, 2015

For more than six decades, Kilroy Realty Corporation has been a leader in West Coast commercial real estate markets - providing services to a diverse array of industries spanning the coast from Seattle to San Diego. This week Jamas Gwilliam, vice president of Southern California Development and Investments, elaborates on what the San Diego market means to Kilroy Realty.

1) Please tell us what your company/organization does.
We are committed to creating collaborative, sustainable, highly-amenitized work environments and improving the quality of life in the communities we are a part of. We are proud to work with some of the most innovative companies in technology, engineering, health care, biotechnology, entertainment and professional services.

Kilroy Realty was named #1 Landlord in North America by the Global Real Estate Sustainability Benchmark in 2014 across all asset classes and #5 in the world. Kilroy’s San Diego office, Kilroy Centre Del Mar was most recently awarded The International Office Building of the Year (TOBY) award in July 2015 which is a testament to the quality of operations the company stands for.

We are passionate about being environmentally responsible and improving the quality of life throughout the West Coast: Kilroy is the major donor for the Rozalia Project for a Cleaner Ocean, participating in furthering their mission of marine preservation and education.

2) What are some advantages to being located/doing business in San Diego?
San Diego has one of the most diversified economies in the world with a phenomenal bench of intellectual talent.  At the hub of this economy are some of the finest educational institutions in the world.  When you add in the great weather compared to other west coast markets and the relatively inexpensive cost of doing business here, San Diego is well positioned to compete globally for talent and future investment. Personally, having grown up here and recently having moved back to San Diego after 5 years in Los Angeles, I love that I can surf before work and still get to the office by 8:30. San Diego’s pace of life is just the right blend of laid-back and ambitious.

3) San Diego is full of dynamic companies, firms and service providers influencing global trends and innovation. Pick another San Diego company that is at the top of its game.
Within our 3 million SF San Diego portfolio, we provide space to many innovative companies.  One dynamic organization that we have done business with is UCSD. The amount of innovation that they are fostering and investment they are making across almost every San Diego employment sector is immense.  As an example, the Altman Research Institute and Jacobs Medical Center are part of a $2 billion building campaign, transforming health and medicine for UC San Diego and for the region.

4) What do you anticipate for your company in five years? What do you anticipate for San Diego?
We hope to strategically increase our presence in San Diego by continuing to adjust our portfolio to reflect what we see are the changing demands in the modern workforce. Before the end of the year, we will complete The Heights Del Mar, a three-story 75,000 SF Class-A  office building prominently located in one of San Diego’s largest employment centers. And as most of San Diego has seen, we hope to begin construction on One Paseo which will be a unique mixed-use community unlike anything else in the county. We are also positioning ourselves to move forward with opportunities on a few of our projects: the Horizon at Carlsbad, in Sorrento Mesa at Pacifica, Sorrento Gateway, in UTC at 9455 Towne Centre Drive, and off SR-56 adjacent to our Intuit Campus, The Meridian at Santa Fe Summit.

Over the next five years, we believe that San Diego will continue to adapt in order to not only compete but also lead in areas of innovation and technology across a multitude of existing and emerging sectors.  We look forward to the opportunities that come with that innovation and change.

July 29, 2013

Aerospace is part of a large and thriving Aerospace, Navigation & Maritime Technologies (ANMT) cluster in San Diego. Among the 25 most populous U.S. metropolitan areas, San Diego ranks second in the concentration of ANMT employment behind longtime aerospace leader Seattle.

 The cluster accounts for more than 20 percent of San Diego’s innovation economy, more than any other cluster except Information and Communication Technologies. San Diego’s growing unmanned aerial systems (UAS) sector presents a unique opportunity for companies in the Aerospace industry, with cutting-edge applications being developed in San Diego and throughout California. Currently, 60 percent of U.S. technology development in unmanned systems is performed in San Diego County, according to National University System Institute for Policy Research. With the rise in commercial and consumer uses, this industry sector is well positioned to carry the aerospace industry forward and continue to attract top engineering talent to the region.

  Since the aerospace industry shares many components with other industries in the ANMT cluster, it is difficult to break down aerospace companies and employment from the rest of the cluster. Some of the key aerospace-specific components of the cluster include: Search, Detection, Navigation and Guidance; Aeronautical and Nautical System and Instrument Manufacturing; Aircraft Manufacturing including Aircraft Engine and Engine Parts Manufacturing; and Guided Missile and Space Vehicle Manufacturing. San Diego Regional EDC analyzes key economic metrics that are important to understanding the regional economy and San Diego's standing relative to other major metropolitan areas in the U.S. For more information about San Diego’s aerospace industry and the full run down on how San Diego is faring compared to other major metropolitan regions, see the July 2013 Economic Snapshot.

 

 

 

Like what you're reading? Subscribe to our blog and you'll get the post emailed to you