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Coastal North County's commercial real estate submarkets roar back to life.

Article Excerpt
To measure the confidence in San Diego Coastal North County's and the overall economic recovery, one need do little more than gauge the health of its commercial real estate market.

It is a picture of good health overall. The collection of North Coastal office/industrial submarkets that were severely impacted in this decade by the dot corn consolidations, mild recession, mergers and/or downscaling are bouncing back, according to the experts of Grubb & Ellis/BRE Commercial's Office Division.

Grubb & Ellis/BRE office specialist Joe Anderson observes that the owners of prime office properties near the I-5 Corridor from Del Mar north through Carlsbad are expressing confidence, as are the tenants who secured the facilities that meet their immediate and mid-term needs, and the owners of land zoned and entitled for office/flex space development, particularly in the relatively near term.

While the last five years have reinforced the suddenness and speed with which unforeseen national and global events can disrupt even the most vibrant commercial markets, if prevailing conditions continue, Anderson expects 2004 will be distinguished by the following:

* Decision makers will continue to move theft firms to North County.

* Virtually all North Coastal office markets will see vacancy rates decrease...

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