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MULTIFAMILY
3.4% 90%

Solana Beach is designated within the North Shore Cities multifamily

submarket, whose supply shortage and virtually full occupancy levels Rent Growth Occupancy
have pushed rents to San Diego’s highest. Historically, the submarket has (2019 AVERAGE) (YTD AVERAGE)
seen occupancy average 94.8% and annual rent growth average 2.9%. Its
strong employment base drives demand from an affluent, highly educated

professional demographic, bolstered by the presence of prominent tech 2.47% 0%
companies like Google and Qualcomm as well as white-shoe law firms,
including Latham & Watkins and Sheppard Mullin. Median household Population Growth Inventory Growth
income in the submarket is San Diego’s highest at more than $110,000 (5-YEAR FORECAST) (NEXT 8 QUARTERS)

per year. Apart from Kilroy’s One Paseo, which had been averaging 20
units a month of absorption, inventory growth was nonexistent over the
past two years, and no new deliveries are expected or proposed over the
next two besides Solana 101.

$4.25 4.6%
RETAIL

Lease Rate Rent Growth
A highly coveted retail area, the Del Mar/Solana Beach/Rancho Santa (YTD AVERAGE) (12-MONTH AVERAGE)

Fe submarket saw trailing 12-month rent growth of 4.6% to reach market
rents above $4.00 per square foot. With current vacancy at 6.3% and
no new supply delivering in the next two years other than Solana 101, 4.3% 15K+

fundamentals should continue to remain strong.
Vacancy Rate Traffic Count
(2019 AVERAGE) (DAILY)