Asking rent at all-time high

​​SAN ANTONIO – NAI Partners released its 1Q 2018 San Antonio Office Market Report.

Moderate job growth in the San Antonio metro.

• Job growth was moderate, increasing at a 2.9 percent annualized rate over the three months through February 2018, with increases in construction, mining, and manufacturing. 

• The unemployment rate increased slightly to 3.4 percent in February as the Texas and U.S. rates held steady at 4.0 percent and 4.1 percent, respectively.

The vacancy rate was flat in the first quarter.

• The total vacancy rate for the San Antonio office market remained flat during the first quarter of 2018, at 9.8 percent, and just a tad up from this time last year at 9.7 percent. 

Frost Tower is on schedule to open early 2019.

• The 462,000​​-sf Frost Tower at 111 W. Houston, is on track and set to deliver in 1Q 2019. 

• There are 1.2 million sf of space under construction in the San Antonio office market, with about 535,000 sf, or 43 percent available for lease.