SA office/medical markets continue positive growth

​​​​SAN ANTONIO – At the end of first quarter 2019, the vacancy rate for Class A and Class B office/medical properties rose 90 basis points quarter over quarter to 16.8 percent.

Net absorption slowed to -94,000 sf, with Class A space representing -46,000 sf and Class B space totaling -47,000 sf.

Worth & Associates and TSAOG have broken ground on​ two local office and medical properties. RidgeWood Plaza II, a 123,000-sf, four-story Class A office building, and the 97,000-sf, three-story Ridgewood Orthopedic Center will open by summer 2020.

Moreover, Harrison Street Real Estate Capital LLC has bought the Children’s Hospital of San Antonio Health Pavilion​ at 1434 E. Sonterra Blvd. The brand-new 57,250-sf medical office building was 100 percent leased at the time of sale by Seavest Healthcare Properties LLC.