Cushman & Wakefield office snapshot: 2Q 2015 San Antonio
SAN ANTONIO – Overall, the San Antonio office market experienced decreased vacancy rates and increased average asking rental rates from one year ago.
Class A office inventory in the CBD was stable reflecting a direct vacancy rate of 9.5 percent, a modest increase from one year ago.
With the Class A office market outside the CBD adding new buildings to absorb the demand of San Antonio’s growing corporate office user base, the Far North Central and Far Northwest submarkets will gain more than 600,000 sf of new, speculative, non-medical office product by year-end.
The outlook for San Antonio’s office market appears positive and able to absorb the new construction availabilities coming online in the next year and beyond.
| 2Q 2014 | 2Q 2015 | Y-O-Y Chg. | |
| Overall vacancy | 15.4% | 14.7% | -0.7 pp* |
|
Direct asking rents (PSF/YR) | $19.61 | $20.08 | 2.4% |
|
YTD leasing activity (SF) | 1,096,976 | 553,378 | -49.6% |
*percentage point
Source: Cushman & Wakefield
See the full San Antonio Office Snapshot 2Q 2015 report.
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