San Diego's Rx for Malaise

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3.5% vacancy, 3Q 2008

4.0% vacancy, 3Q 2007

$1,304 effective rent, 3Q 2008

$1,248 effective rent 3Q 2007

Source: Reis

Retail:

5.0% vacancy, 3Q 2008

3.5% vacancy, 3Q 2007

$22.60 rent per sq. ft., 3Q 2008

$22.45 rent per sq. ft., 3Q 2007

Source: Reis

Industrial:

7.3% vacancy, 3Q 2008

6.7% vacancy, 3Q 2007

$1.47 rent per sq. ft., 3Q 2008

$1.70 rent per sq. ft., 3Q 2007

Source: Cushman & Wakefield

Hotel:

57.9% occupancy, 3Q 2008

71.3% occupancy, 3Q 2007

$73.56 average daily rate, 3Q 2008

$94.97 average daily rate, 3Q 2007

Source: Smith Travel Research

MAJOR PROJECTS

Lane Field: A proposed 5.7-acre project at the former home of the Pacific Coast League Padres got a thumbs-up from the California Coastal Commission and the Unified Port of San Diego Commission in January. Developers plan to build a 525-room InterContinental Hotel, and a 275-room hotel operated by Woodfin Suite Hotels. The site will include 80,000 sq. ft. of shops and restaurants.

Developer: Lane Field San Diego Developers

Completion: 2012

Cost: $400 million

Hilton San Diego Bayfront Hotel: Convention travelers just got a new 30-story, 1,190 room hotel on 13 waterfront acres. The Hilton San Diego Bayfront Hotel boasts 3,000 sq. ft. of retail space, 165,000 sq. ft. of meeting space, a 7,300 sq. ft. fitness center and spa, and a saltwater pool. Guests also will find $2 million of commissioned public art at the hotel. The hotel was built on the former site of the Campbell Shipyard.

Developer: Portman Holdings

Completion: December 2008

Cost: $348 million


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