The San Diego retail market is showing strength despite economic headwinds and uncertainty, with historically low vacancies persisting quarter over quarter. Inflation has proven stubbornly high, however, the unemployment rate in San Diego has remained relatively steady and is below the state and national levels. This year has seen record retail property sales levels in San Diego County and the effect of tourism is impressive. Little new product is being built for retail use in San Diego, though the RaDD project is expected to be delivered in phases by early 2024. Overall, the market vibrancy in San Diego is still strong.
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