|REOC: San Antonio 4Q 2015 office market positive||REOC: San Antonio 4Q 2015 office market positive||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=12396||2016-03-10T06:00:00Z||2016-03-10T20:30:00Z||
SAN ANTONIO - The San Antonio Office market closed fourth
quarter with 195,139 sf of positive net absorption leading to a year-end
absorption total of 575,859 sf.
The positive quarterly gain was primarily the result of preleasing
within buildings that reached completion in the fourth quarter such as
RidgeWood Plaza (147,000 sf), which came online in the Far North Central sector
anchored by EOG Resources.
In addition, absorption was bolstered by activity at The
Rand Building (115,120 sf) downtown which had previously been owned and
occupied by Frost Bank but has recently been repositioned by its current owner,
Weston Properites, to a multi-tenant building focused on the high-tech
industry. It is currently home to Geekdom, Cloud Academy and Jungle Disc.
Citywide vacancy within Class A buildings
currently stands at 13.8 percent, far below Class B and C markets at 20.6
percent and 24.4 percent, respectively, but still up 1.4 percentage points from
last quarter and 2.9 percentage points compared to the same quarter a year ago.
|REOC San Antonio||San Antonio-New Braunfels||Office|| https://assets.recenter.tamu.edu/documents/mktresearch/SanAntonio_REOC_Office.pdf|
out Kim Gatley's blog. Gatley is Director of Research at REOC San Antonio.