News | San Diego mixed-use project moves forward at former shopping center site

Why this matters

Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. San Diego life sciences vacancy remains the lowest in the major life-science clusters, and multifamily fundamentals continue to be supported by a coastal supply ceiling. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.

Editorial analysis · Real Estate Trail Editorial

On the RET wire

• The 25th San Diego story tracked on the wire in September 2026. All San Diego coverage →
• Disclosed retail deal value tracked in September 2026: $5.1B across 81 reported transactions. All Retail coverage →

Computed from Real Estate Trail’s own tracked coverage

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