SAN ANTONIO – Local businesses rented a record amount of office space in 2016, due in large part to the resurgence of the downtown business district and demand for new corporate offices on the northwest side, according to a report from Transwestern.
Vacancy rates for office space in the city dropped to 15.1 percent in the fourth quarter of last year from 18.7 percent during the same time in 2015, the lowest it’s been since Transwestern has been tracking the data.
The average rental rate per sf for office space in the Alamo City increased almost 8 percent last year to $22.09 from $20.50 in 2015.
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