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REOC: San Antonio 3Q 2014 officeREOC: San Antonio 3Q 2014 officehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=24412014-11-17T13:00:00Z2014-11-17T08:00:00Z

SAN ANTONIO - According to REOC San Antonio's survey of more than 28.7 million sf of office lease space, new leases and expansions inked in third quarter were countered by tenant moves and consolidations which resulted in 7,480 sf of negative net absorption.

At the close of 3Q 2014, the citywide vacancy rate stood at 17.8 percent, up slightly compared to 17.5 percent in 2Q 2014 but improved compared to 18.8 percent recorded in 3Q 2013.

Rental rates softened slightly in 3Q 2014. The average quoted full-service rental rate for area office space now stands at $19.57 per sf per year on a full-service basis which is down $0.02 compared to 3Q 2013.

San Antonio 3Q 2014 Office Report*
All Classes Citywide CBD Non-CBD
3Q 2014 3Q 2013 3Q 2014 3Q 2013 3Q 2014 3Q 2013
Inventory 28,654,406 28,032,425 5,759,928 5,673,787 22,894,478 22,358,638
Direct vacant 5,102,223 5,278,320 1,547,330 1,681,997 3,554,893 3,596,323
Vacant 17.8% 18.8% 26.9% 29.6% 15.5% 16.1%
Average rent $19.57 $19.59 $19.11 $19.60 $19.64 $19.59
3Q absorption -7,480 13,874 2,456 -5,521 -9,936 19,395
YTD absorption 594,327 334,080 178,205 89,566 416,122 244,514

*Statistical information is calculated for multitenant office bldgs. 20,000 sf and larger (excluding single-tenant, owner-occupied, gov't and medical buildings).

For more stats, see Office under San Antonio Market Data Sources.

REOC San Antonio
San Antonio-New Braunfels
Office
http://reocsanantonio.com/qr.htmRead more at {Source}

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