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CBRE San Antonio Office Report 1Q 2015CBRE San Antonio Office Report 1Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=11882015-04-27T09:41:00Z2015-04-27T00:00:00Z

SAN ANTONIO - For the third consecutive year, the San Antonio office market started off the year with a quarter of positive net absorption — first quarter 2015 closed with the strongest first quarter ever recorded with 426,409 sf of absorption.

This also marks the ninth straight quarter of positive net absorption.

Vacancy continues to fall, this time ending the quarter at 15.5 percent, matching the lowest point since 2010.

The majority of absorption seen was generally focused in the newest submarkets, as the market was led by the Far West and Far North Central. Each finished the quarter with 160,500 sf and 157,418 sf of positive net absorption respectively.

Large contributions include the completions of 8100 Potranco, which added the entire 160,500 sf of the Far West's absorption for the quarter.

The Far North also had its absorption largely affected by a new building being added to the market, with the sale-leaseback of iHeart Communications building at 20880 Stone Oak Pkwy.

San Antonio Office Market 1Q 2015
Market Rentable
Area
Total
Vacant
Vacancy
Rate
Net Abs.
(SF)
Delivered
(SF)
Under
Const. (SF)
Asking
Rate
CBD 5,100,035 1,071,983 21.0 24,853 - - 19.66
North Central 8,140,624 1,010,812 12.4 73,418 - 109,000 22.07
Far North Central 2,578,502 212,865 8.3 157,418 - 201,217 24.23
Northeast 1,924,652 277,439 14.4 8,207 - - 19.97
Northwest 8,581,667 1,567,129 18.3 7,513 - 335,580 20.04
Far West 544,610 31,600 5.8 160,500 160,800 101,180 -
South 473,871 75,608 16.0 -8,500 - - 15.50
Totals 27,343,961 4,247,446 15.5 426,409 160,800 746,977 20.67


Here's the full CBRE 1Q 2015 report.

See San Antonio Research.

Source: CBRE

CBRE
San Antonio-New Braunfels
Office
https://www.recenter.tamu.edu/Pages/market-research.aspxRead more at {Source}

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