REOC San Antonio solid 1Q 2016 retail market updateREOC San Antonio solid 1Q 2016 retail market updatehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=136092016-06-22T05:00:00Z2016-06-22T21:00:00Z

​​​SAN ANTONIO - The San Antonio retail market maintained a healthy sub-10 percent vacancy rate in first quarter and appears to be on track for another solid performance in 2016. ​

Leasing activity in the first three months of the year generated 308,914 sf of positive net absorption with Neighborhood Markets accounting for roughly one-third of the total net gain. 

The San Antonio retail market closed the first quarter with a citywide vacancy rate of 9.2 percent which is relatively stable compared to 9.3 percent last quarter and 9.0 percent recorded this time last year. 

On average, the cost of renting retail space increased to $16.13 per sf per year on a triple net basis which is up $0.59 compared to a year ago for a moderate 3.8 percent annual increase. 

New inventory was comprised of two renovated properties including the greatly anticipated Shops at Rivercenter with 488,363 sf. 

In the Northeast sector, the 34,000-sf Mega Furniture opened at the 108,000-sf Forum Crossing—the redevelopment of what was originally a Kmart and later served as a call center at 3150 Pat Booker Rd,

Although speculative development remains limited, the San Antonio retail market will continue to benefit from population growth and a strong housing market.

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