REOC: San Antonio 4Q2015 retail remarkably stableREOC: San Antonio 4Q2015 retail remarkably stablehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=123742016-03-07T06:00:00Z2016-03-07T20:45:00Z

​SAN ANTONIO - The San Antonio retail market remained remarkably stable throughout 2015.

Neighborhood and strip centers continue to hold the highest vacancy rates citywide at 13.9 percent and 14.5 percent, respectively; however, both vacancy rates improved slightly in the CBD compared to the same quarter a year ago.

Demand for retail space continues to outpace new supply. Newly delivered projects during the last three months of the year included Verde Plaza (24,265 sf), a strip center in the far North East sector that fronts I-35 near the Amazon Fulfillment Center, and Roadrunner Plaza (18,375 sf), a small strip center at Hausman & Loop 1604 near UTSA. In all, new construction delivered roughly 430,000 sf of retail lease space in 2015.

The absorption tallied for the year more than doubled the amount of new supply added. Leases and expansions inked in the fourth quarter generated 94,794 sf of positive net absorption which pushed the year-end total net gain to 912,166 sf.

The Northwest market experienced the lion’s share of that activity with nearly 343,000 sf, largely due to the completion of phase five at The Rim which came online 95 percent preleased including big box retailers such as Hobby Lobby, Hemispheres, PetSmart and many more.

REOC San Antonio
San Antonio-New Braunfels

​Check out Kim Gatley's blog​​. Gatley is Director of Research at REOC San Antonio​​.

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