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CBRE office market: two submarkets pull aheadCBRE office market: two submarkets pull aheadhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=168292017-06-13T05:00:00Z2017-06-13T22:50:00Z

San Antonio submarkets stats for first quarter 2017 says CBRESAN 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!​

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