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THE ECONOMY
NORTH COUNTY BUSINESS JOURNAL
x
FALL 2015
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sdnedc.org
T
o say the last several years have
produced tumultuous economic
and political times is an under-
statement. With the fluctuation of
gas prices, international and na-
tional security concerns, homegrown terror-
ism, and the ups and downs in the stock
market, it's natural for the American consumer
to be concerned
But for any of the skeptics worried about the
current business and economic climate, be as-
sured that industrial development is alive and
well in North San Diego County and should
help calm those consumer concerns.
While many may gauge the health of the econ-
omy by the stock market, interest rates, price of
oil or other economic indicators, one of the most
important barometers of a strong comeback is
investment and development of large-scale in-
dustrial properties with the costs of develop-
ment in the six- to seven-figure range.
"Overall, the encouraging news is we have
seen industrial vacancies drop anywhere from
30 to 60 percent over the past three years, while
the average cost per square foot of industrial
space has risen slightly," said Chris Roth, vice
president of Lee & Associates Commercial Real
Estate Services. "On both ends we are seeing
positive news."
The importance of industrial development
cannot be understated. More industrial devel-
opment leads to more manufacturing capabili-
ties, which leads to more jobs, community
needs for housing, restaurants, and services to
support the influx of workers.
In Oceanside and Carlsbad alone there are
Growth of
industrial
development in
North County
bodes well for
the economy
BY john phipps
BUILDING
BLOCKS
fi
First Park @ Ocean Ranch.
"Overall,
the encouraging news is we have seen industrial vacancies
drop anywhere from 30 to 60 percent over the past three years.
"
– CHRIS ROTH,
Lee & Associates Commercial Real Estate Services
