SAN ANTONIO – The 2017 mid-year checkup of the medical office market remained steady and positive, according to REOC San Antonio.
The survey of more than 7.2 million sf of separately tracked medical-only office space revealed that the citywide vacancy rate remained relatively unchanged at 20.0 percent compared to 20.1 percent at mid-year 2016 as new inventory offset positive absorption.
As positive absorption was offset by the addition of new stock, the citywide vacancy rate remained unchanged.
Still, the robust health care industry continues to be a leading pillar in the city’s stable economy.
Average quoted rental rates increased ten cents in the second quarter from the previous quarter to reach $25.02 per sf on an annual full-service basis—which reflects an YTD increase of nearly 2 percent.
San Antonio-New Braunfels Medical Market Research.
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