SA office leasing activity ends 2Q on high note

SAN ANTONIO – Healthy leasing activity across the market closed second quarter 2019 on a high note, with over 150,000 sf absorbed.

According to CBRE, marketwide vacancy rose by 40 basis points to 14.4 percent.

There was 895,150 sf of office space under construction, and 616,504 sf was​​ delivered by the end of the quarter. Of the delivered projects, nearly half are preleased.

The average asking rate across the market was $22.71 per sf, up from the previous quarter.

Class A rental rates in the Central Business District grew $0.66 to $30.44 per sf. Rates in the Far North Central submarket increased $1.35 per sf, closing the quarter at an average of $28.68 per sf.​