REOC San Antonio medical office 1Q 2017

SAN ANTONIO – The medical office market experienced a slight shift in occupancy in first quarter 2017 from 1Q 2016.

A new report by REOC San Antonio​ shows that just over 1.4 million of the 7.2 million sf of medical space available for lease in the San Antonio market was unoccupied during 1Q 2017.

More tenants are looking beyond traditional medical office buildings and to explore other potential spaces, including retail centers that can provide greater exposure.

The shift to nontraditional space is visible downtown, where CaptureRx is taking five floors in a former Houston Street department store to accommodate its new headquarters and hundreds of personnel.

CaptureRx’s planned move downtown will further lower the vacancy rate downtown, which was at 16.6 percent in 1Q 2017.

The vacancy rate outside of the Central Business District was nearly 21 percent during 1Q 2017.​​