REOC San Antonio: North, Northeast dominate office marketREOC San Antonio: North, Northeast dominate office markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113092015-12-08T06:00:00Z2015-12-08T17:00:00Z

​​​​​SAN ANTONIO - For the local office market in third quarter 2015, the song remains the same: the North and Northeast sides lead all submarkets in terms of occupancy and new space either completed or under construction.

The North Central sector saw 11.5 percent of its office space sitting vacant, while the central business district had a 27.7 percent vacancy rate, according to data compiled by REOC San Antonio and Xceligent.

Citywide, the vacancy rate increased slightly from 17.5 percent in 2Q 2015 to 18 percent in 3Q 2015.

Citywide, the office market experienced a positive net absorption of 201,875 sf.

Adding to the inventory in 3Q 2015 were three new office buildings:

R.L. Worth & Associates’ Heritage Oaks at Inwood, a 109,000-sf, four-story building at 2338 N. Loop 1604 West near Bitters Rd.

R.L. Worth’s Ridgewood Business Center II, a 54,217-sf, single-story office project at Redland Rd. and Dry Creek Way north of Loop 1604 and just east of US 281.

Stream Realty’s One51 Office Centre, a 100,000-sf building at 10130 Texas 151 in Westover Hills.

Xceligent calculates 477,000 sf of office space is currently under construction.

​See the complete REOC San Antonio Office Report 3Q 2015 at San Antonio Market Research or visit REOC San Antonio​ for more quarterly reports.
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