Jul 31, 2018
CBRE submarkets: Class A industrial product picks up 185,000 sf
SAN ANTONIO – Prime industrial product accounted for nearly 185,000 sf of net absorption as demand for Class A product picked up this quarter, according to CBRE’s “San Antonio Industrial MarketView...
SAN ANTONIO – Prime industrial product accounted for nearly 185,000 sf of net absorption as demand for Class A product picked up this quarter, according to CBRE’s “San Antonio Industrial MarketView 2Q 2018.”
Industrial development increased in the San Antonio market, closing the quarter with over 1.6 million sf under construction and three deliveries amounting to 220,312 sf in the Northeast submarket.
The market-wide vacancy rate decreased 80 basis points (bps), closing the quarter at 9.0 percent.
Class A flex R&D average rents matured $1.69 per sf, pushing total average annual rents by $0.50 per sf.
In addition, the regional economy expanded again in May 2018 adding 15,500 jobs over the past year.
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