San Antonio sees record amount of new office constructionSan Antonio sees record amount of new office constructionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=169472017-06-23T05:00:00Z2017-06-23T17:00:00Z

​​SAN ANTONIO – First quarter 2017 saw a record amount of new office construction in the Alamo City, according to the latest office market report from Transwestern.

Of the 1.2 million sf of new office space under construction in the city, 738,000 was started during first quarter 2017 alone.

​​While net absorption of office space was down more than 15,000 sf in the first quarter, absorption is up almost one million sf since the same time last year. The downturn in the quarter was blamed on long-expected givebacks of Class B and C office space. The occupancy for new office deliveries in the area is​ more than 75 percent.

The report also highlighted other positives for the market. Vacancy rates fell to 14.7 percent from 15.1 percent in the fourth quarter. The city's unemployment rate stayed at 4.1 percent, lower than the national average of 4.7 percent, and the San Antonio-New Braunfels MSA saw its seventh straight year of job growth, with 3,200 jobs being added since the end of 2016.​

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2017/06/20/new-san-antonio-office-construction-at-an-all-time.html?ana=e_ae_set1&s=article_du&ed=2017-06-20&u=ohSD%2Fe6TGoiGi7VP7oH8XZKfemn&t=1497990267&j=78417791Read more at {Source}

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