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CBRE: Steady leasing pushes down vacancyCBRE: Steady leasing pushes down vacancyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=187152018-01-10T06:00:00Z2018-01-10T22:55:00Z

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

San Antonio Office, Q4 2017 Steady leasing activity pushes down vacancy to annual low          14.4%          81,911 SF          $22.36 PSF (FSG)*          894,981 SF          0 SF            *See Figure 2 for NNN rents. All statistics exclude owner-occupied properties. Arrows indicate  trend from previous quarter. Figure 1: Net Absorption and Vacancy Rate              Net Absorption (000s SF) 1,600 1,200 800 400 0 -400              Vacancy Rate (%) 20 18 16 14 12 10                         2007        2008        2009        2010        2011        2012        2013        2014         2015       2016        2017 Q1                Q2                Q3                Q4                Total Annual Net Absorption                 Vacancy Rate Source: CBRE Research, Q4 2017. NORTHWEST AND CBD SHARE  BULK OF LEASING

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.
The office market saw no new deliveries, however, construction is underway on six projects totaling 895,000 sf with an expected pre-leased rate of 40 percent.
CBRE
San Antonio-New Braunfels
Office
https://assets.recenter.tamu.edu/Documents/MktResearch/SanAntonio_CBRE_Office_MarketView.pdf

See more data from other sources at San Antonio-New Braunfels Office Market Research.

See the full report at {Source}

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