JLL: San Antonio office insights 3Q 2015

​​​SAN ANTONIO – Jones Lang LaSalle (JLL) released its third quarter
2015 Office Insight for the San Antonio market.

During fourth quarter 2012, rental rates northeast were
approximately $19.26 per sf, full service. Since then, rates have bumped $4.98
per sf to $24.24 per sf, full service. This has taken the northeast from the
fourth to second most expensive submarket in San Antonio, just behind far north
central.

Three projects delivered at 22.0 percent preleased during 3Q
2015. These projects include Lockhill Crossing (127,000 sf), One51 Office
Centre (101,000 sf) and Ridgewood Business Center II (54,000 sf).

One of the largest sales of the quarter occurred far
northwest with KBS purchasing Promenade at Eilan I & II (205,000 sf) from
Lonestar Funds.

At the close of 3Q 2015, citywide average sales
price hovered around $166 per sf.