REOC: Alamo City medical office market improves in first quarterREOC: Alamo City medical office market improves in first quarterhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=165462017-05-12T05:00:00Z2017-05-12T17:00:00Z

​​​SAN ANTONIO – Local medical office market conditions improved in first quarter 2017, according to REOC San Antonio in its latest market report.

The market had a slight decrease in the citywide vacancy rate within the city’s inventory of more than 7.2 million sf of medical-only office lease space. 

​New leases and expansions generated 17,282 sf of ​positive net absorption in the first quarter. The citywide vacancy dipped to 20 percent compared to 20.5 percent the previous quarter. Vacancy rates between Class A and B medical buildings had relatively wide margins at 18.4 percent and 20.2 percent, respectively.

Following the relatively stable trend of vacancy rates, rental rates saw little change as well. The average quoted rental rate for medical-only office decreased $.04 from last quarter to $24.92 per sf on an annual full-service basis, reflecting an over-the-year increase of nearly 1 percent. Class A properties averaged $28.84  per sf while Class B properties were at $23.07.

“With limited speculative construction underway, the market is not expected to see any significant spike in vacancy through the course of the year,” said Carl Bohn, senior vice president with REOC San Antonio.

REOC San Antonio
San Antonio-New Braunfels
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