CBRE: Steady leasing pushes down vacancy

​​​​​​​​​​​​SAN ANTONIO – CBRE San Antonio​ released its ​​​4Q 2017 Office MarketVi​ew​. 

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Fourth quarter 2017 activity pushed annual net absorption to 426,235 sf:

• San Antonio’s CBD submarket reported the largest net absorption in 4Q 2017;

• The Northwest submarket followed with healthy leasing activity. 

The market’s vacancy rate fell to 14.4 percent, down 30 basis points from a year ago due to steady positive movements and the absence of new deliveries.

Weighted average asking rents for office product grew 3.8 percent during the trailing four quarters ending 4Q 2017. 

• Growth was largely anchored by Class A product, which has grown 4.9 percent during the same period; 

• Separately, NNN asking rents for Class A spaces have grown 9 percent since 4Q 2016.