|REOC: San Antonio 4Q2015 retail remarkably stable||REOC: San Antonio 4Q2015 retail remarkably stable||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=12374||2016-03-07T06:00:00Z||2016-03-07T20:45:00Z||
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
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||Retail|| https://assets.recenter.tamu.edu/Documents/MktResearch/SanAntonio_REOC_Retail.pdf|
out Kim Gatley's blog. Gatley is Director of Research at REOC San Antonio.