Population growth pushes retail vacancy to all-time low says M&MPopulation growth pushes retail vacancy to all-time low says M&Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133302016-05-26T05:00:00Z2016-05-26T22:00:00Z

​SAN ANTONIO - Increases in population, residential construction and employment have bolstered the decline in San Antonio’s available retail space and caused rental rates to surge.

This growth has demanded expansions of necessities-based retailers, therefore crowding out retail vacancy.

According to Marcus & Millichap’s Retail Market Report​, retail availability is at an all-time low as tenant demand continues to rise. 

Along with the demand, new retail construction is limited.

Projected city employment of 2.5 percent will create approximately 25,000 jobs.

This sharp increase in employment will contribute to the need for grocery, food, and service amenities in the city.

In response, retailers are responding quickly to the expected growth with strong pre-leasing figures for space coming online later in the year. 

In Atascosa, Bandera, Kendall, Medina, and Wilson counties year-end retail vacancy is expected to drop to less than 3 percent, with San Antonio at 5.1 percent. Marcus & Millichap predict a 2.5 percent increase in rental rates to $15.31 per sf.​

San Antonio Business Journal
San Antonio-New Braunfels

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