San Diego Retail Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, Kidder Mathews, CBRE, Matthews, JLL, Colliers
Quarterly retail market indicators for San Diego, aggregated by CREhunt from Cushman & Wakefield, Kidder Mathews, CBRE, Matthews, JLL, Colliers. As of Q2 2026, average asking rent was $27.12/SF/yr and vacancy was 5.5%, per Cushman & Wakefield.
Projected current retail pricing — San Diego
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 multiple brokerages data (cap rate 5.8%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $27.12/SF/yr | 5.5% | -79K SF | — | Cushman & Wakefield |
| Q2 2026 Kidder Mathews | $28.56/SF/yr | 4.5% | -22K SF | 290K SF | Kidder Mathews |
| Q4 2025 CBRE | $28.08/SF/yr | — | 27K SF | — | CBRE |
| Q4 2025 Cushman & Wakefield | $27.12/SF/yr | 5.4% | -322 SF | — | Cushman & Wakefield |
| Q4 2025 Matthews | — | 4.5% | — | — | Matthews |
| Q3 2025 Matthews | $36.28/SF/yr | 4.8% | — | — | Matthews |
| Q2 2025 Cushman & Wakefield | $26.16/SF/yr | — | 48K SF | — | Cushman & Wakefield |
| Q2 2025 JLL | $35.55/SF/yr | 4.4% | — | — | JLL |
| Q1 2025 Cushman & Wakefield | $26.16/SF/yr | 4.4% | 39K SF | — | Cushman & Wakefield |
| Q4 2024 Cushman & Wakefield | $26.16/SF/yr | 4.6% | 138K SF | — | Cushman & Wakefield |
| Q1 2024 Cushman & Wakefield | $27.60/SF/yr | 5.2% | -316K SF | — | Cushman & Wakefield |
| Q2 2022 Cushman & Wakefield | — | 3.1% | — | — | Cushman & Wakefield |
| Q2 2018 Colliers | — | 6.7% | 148K SF | — | Colliers |
Retail asking rents by submarket
The newest asking rent a named brokerage's report published for each San Diego retail submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Central County | $2.15/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Community | $2.18/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| East County | $1.95/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Lifestyle | $1.62/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Neighborhood | $2.42/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| North County | $2.25/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Power | $2.88/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South County | $2.50/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Strip | $2.24/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for San Diego retail did not fully agree. On vacancy, the sources span 1.0 points — from 4.5% (Kidder Mathews) to 5.5% (Cushman & Wakefield). Asking-rent estimates differ by $1.44/SF/yr — from $27.12/SF/yr to $28.56/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Cushman & Wakefield | 5.5% | $27.12/SF/yr | — |
| Kidder Mathews | 4.5% | $28.56/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for retail space in San Diego?
- As of Q2 2026, the average asking rent for retail space in San Diego was $27.12/SF/yr, per Cushman & Wakefield.
- What is the retail vacancy rate in San Diego?
- The retail vacancy rate in San Diego was 5.5% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's San Diego market data come from?
- This report aggregates quarterly retail market data for San Diego from Cushman & Wakefield, Kidder Mathews, CBRE, Matthews, JLL, Colliers.
- How much do brokerage estimates differ for retail space in San Diego?
- For Q2 2026, the brokerage sources CREhunt aggregates for San Diego did not fully agree. On vacancy, the sources span 1.0 points — from 4.5% (Kidder Mathews) to 5.5% (Cushman & Wakefield). Asking-rent estimates differ by $1.44/SF/yr — from $27.12/SF/yr to $28.56/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.