|CBRE office market: two submarkets pull ahead||CBRE office market: two submarkets pull ahead||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=16829||2017-06-13T05:00:00Z||2017-06-13T22:50:00Z|
SAN ANTONIO – CBRE released its first quarter 2017 office report which shows the office market demand as the largest in the Far West and Northwest submarkets where their combined net absorption totaled to more than 80,000 sf.
The office sector continued tightening as vacant space dropped by 2.2 percent year-over-year, reaching 14.6 percent in first quarter 2017.
The full service gross (FSG) asking rents are pushing new highs and triple net (NNN) quotes are becoming more common in San Antonio with Class A and Class B averaging at $20.32 and $15.05 per sf.
NEW CONSTRUCTION IN CBD AFTER 25 YEARS
New construction in the Central Business District (CBD) includes the 24-story Frost tower that expects to deliver 462,000 sf, including 150,000 available sf, by early 2019.
San Antonio's regional economy remained strong due to expanding demographics and diverse employment growth
During 1Q 2017, the local economy added 3,200 new jobs while its unemployment rate remained below the state average at 4.1 percent.
|CBRE||San Antonio-New Braunfels||Office|| http://www.cbre.com/research-and-reports|
To see the full 1Q 2017 CBRE Office Report click here!