San Antonio’s office market ready to boom! CBRE, REOCSan Antonio’s office market ready to boom! CBRE, REOChttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=127852016-04-13T05:00:00Z2016-04-13T20:30:00Z

​​SAN ANTIONIO - Dips in rental rates, rising vacancy and slowing absorption figures throughout the first three-month period of 2016 were all sources of stress for landlords and brokers.

But in the long term, San Antonio's office market is simply preparing for future growth.

After starting out the year with plenty of new office construction—and even more in the pipeline—the market closed "with the lowest first quarter since 2012, and the lowest with positive absorption since 2009," according to the latest San Antonio Office Marketview report by CBRE.

REOC San Antonio's Director of Research Kim Gatley, however, said that all of the new development won't be wasted on a weakening market. In fact, quite the opposite.

"While I would not argue that the office market is experiencing some growing pains, I would quickly add that the newly developed space provides the room needed by existing companies in the market looking to expand," she said. "In addition, the new buildings offer the necessary available space to attract new companies to the area."

“The vast majority … is situated in the highly desirable northern Loop 1604 corridor,” Gatley said. “I expect that the lease-up process will fill the new space in a relatively short span.”​​​

Read more at CBRE San Antonio Office, 1Q2016 report.

Read more at REOC Office Building Market Snapshot, 4Q2015 report​.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/print-edition/2016/04/08/market-adjusting-to-new-demand-providing-more.htmlRead more at {Source}

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