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REOC: San Antonio 4Q 2014 retail overviewREOC: San Antonio 4Q 2014 retail overviewhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=16742015-02-24T10:51:00Z2015-02-23T00:00:00Z

SAN ANTONIO - The San Antonio retail market experienced a positive but rather quiet fourth quarter. San Antonio area retail properties experienced 52,317 sf of positive net absorption in 4Q 2014, which raised the year-end total to 566,917 sf.

Demand for retail space has steadily absorbed excess space across the city. Much of the vacancy that remains suffers from functional obsolescence of some sort.

The local retail market closed out the year with a citywide vacancy rate of 9.4 percent - which remained stable compared to the previous quarter and improved compared to the 10.3 percent recorded in the same quarter a year ago.

The citywide average quoted triple net rental rate stepped back $0.05 from 3Q 2014 to settle at $16.60 per sf per year, which is exactly where it stood at the end of 4Q 2013.

REOC San Antonio: 4Q 2014 Retail*
All Types Citywide CBD / South Non-CBD / North
4Q 2014 4Q 2013 4Q 2014 4Q 2013 4Q 2014 4Q 2013
Inventory 47,072,539 46,987,802 6,375,326 6,365,096 40,697,213 40,622,706
Direct vacant 4,416,619 4,819,790 640,825 744,291 3,775,794 4,075,499
Vacant 9.4% 10.3% 10.1% 11.7% 9.3% 10.0%
Average rent $16.60 $16.60 $15.66 $17.08 $16.68 $16.57
4Q absorption 52,317 164,904 -11,687 1,009 64,004 163,895
YTD absorption 566,917 391,862 49,143 26,174 517,774 365,688

*Statistics based on all multi-tenant industrial facilities 20,000 sf and larger excluding single-tenant, owner-occupied and government buildings.

For more stats, see Retail under San Antonio Market Data Research.

REOC San Antonio
San Antonio-New Braunfels
Retail
http://reocsanantonio.com/qr.htmRead more at {Source}

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