Marcus & Millichap: Corporate growth ignites San Antonio office demandMarcus & Millichap: Corporate growth ignites San Antonio office demandhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=172992017-08-01T05:00:00Z2017-08-01T18:00:00Z

​​​​SAN ANTONIO – Steady growth in office-using employment, driven primarily by corporate expansions, bodes well for local space demand, reports Marcus & Millichap in its second quarter 2017 office market update.

Healthy tenant demand will cut vacancy to 11.7 percent this year, Marcus & Millichap says. In 2016, vacancy plummeted 170 basis points.

The firm says 1.3 million sf of office space will be delivered locally by the end of the year. More than 229,000 of that will be medical office space.

The average asking rent will rise to a new high this year, reaching $20.75 per sf. Last year, a 1.3 percent advance in rent was registered.

Marcus & Millichap Real Estate Investment Services
San Antonio-New Braunfels
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