REOC: San Antonio 3Q 2014 retail overview
SAN ANTONIO – Steady employment growth and a healthy housing market continue to bolster the local retail market. Demand for retail space has been steady and widespread, backfilling vacant space across the city.
In all, new leases and expansion generated 89,316 sf of positive net absorption in third quarter which raised the year-to-date total to 485,374 sf of net gain.
As a result, the citywide vacancy rate tightened to 9.4 percent, down from 9.9 percent in 2Q 2014 and 10.7 percent recorded in 3Q 2014.
The citywide average quoted triple net rental rate stepped up to $16.65 per sf per year which is up $0.42 compared to 3Q 2013 for a moderate annual increase of 2.6 percent.
| All Types | Citywide | CBD / South | Non-CBD / North | |||
| 3Q 2014 | 3Q 2013 | 3Q 2014 | 3Q 2013 | 3Q 2014 | 3Q 2013 | |
| Inventory | 47,011,540 | 46,934,874 | 6,375,326 | 6,365,096 | 40,636,214 | 40,569,778 |
| Direct vacant | 4,432,875 | 5,007,231 | 629,138 | 773,502 | 3,803,737 | 4,233,729 |
| Vacant | 9.4% | 10.7% | 9.9% | 12.2% | 9.4% | 10.4% |
| Average rent | $16.65 | $16.23 | $15.87 | $16.76 | $16.72 | $16.20 |
| 3Q absorption | 89,316 | 187,038 | 18,977 | 1,144 | 70,339 | 185,894 |
| YTD absorption | 485,374 | 263,583 | 60,830 | 16,522 | 424,544 | 247,061 |
*Statistics based on all multi-tenant industrial facilities 20,000 sf and larger excluding single-tenant, owner-occupied and government buildings.
For the full report see REOC San Antonio.
For more stats, see Retail under San Antonio Market Data Sources.
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