REOC San Antonio: North, Northeast dominate office market
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.
In This Article
You might also like
Publications
Receive our economic and housing reports and newsletters for free.