Northern and southern submarkets benefit from limited availability elsewhere. Home to one of the largest biotech sectors in the nation, San Diego County witnessed an uptick in vacancy for the first time this cycle during 2018, largely driven by the delivery of 2.8 million square feet of space and a collection of larger move outs. Despite this increase, availability in the metro held below 6 percent for a fourth consecutive year. Moving forward, vacancy is slated to adjust marginally amid another strong year for manufacturing-related job creation and continued growth by pharmaceutical, life science, and logistical/warehouse companies. Expansion among these firms will bolster demand for the already limited stock of vacant R&D and flex buildings in the La Jolla and Torrey Pines areas as well as along Miramar Road. Tight vacancy in these locales and central San Diego County requires tenants looking for lower-cost warehouses and distribution facilities to occupy floor plans in South Bay and the SR-78 Corridor, benefiting leasing velocity and asking rent growth in these submarkets.