Newmark：2025年第二季度圣地亚哥生命科学市场报告（英文版）

Asking rents in the core submarkets declined 2.7% over the past year to $5.60/SF. Rising vacancy rates and elevated sublease availability have put downward pressure on landlords over the past year. Net absorption was negative, posting 462,634 SF in losses during the first quarter. Total vacancy climbed to 21.4%, the highest level in 20 years, driven by negative absorption and new deliveries. Sublease availability climbed to 1.7 MSF, representing 7.8% of existing inventory and an all-time high