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REOC: San Antonio 2Q 2014 industrialREOC: San Antonio 2Q 2014 industrialhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=32982014-08-21T12:31:00Z2014-08-21T06:45:00Z

SAN ANTONIO - Tenant demand for industrial space continued to tighten the local market in second quarter, according to REOC San Antonio. The survey of 461 industrial properties totaled nearly 33.7 million sf of space.

The San Antonio industrial market experienced 199,748 sf of positive net absorption which marks a 13th consecutive quarter of absorption growth.

The citywide vacancy rate remained stable from 1Q 2014 at 5.9 percent but narrowed significantly compared to 8.1 percent recorded in 2Q 2013.

With available space being squeezed, rental rates are rising quickly. The citywide average quoted triple net rental rate for industrial space increased to $7.83 per sf per year — up 4.5 percent from 2Q 2013.

No new speculative projects were delivered to the market in the first half of the year but roughly 537,000 sf of space is expected to come online in the second half.

REOC San Antonio: 2Q 2014 Industrial*
All Types Citywide CBD Non-CBD
2Q 2014 2Q 2013 2Q 2014 2Q 2013 2Q 2014 2Q 2013
Inventory 33,685,029 32,268,547 233,395 233,395 33,451,634 32,035,152
Direct vacant 1,977,334 2,599,345 0 28,548 1,977,334 2,570,797
Vacant 5.9% 8.1% 0.0% 12.2% 5.9% 8.0%
Average rent $7.83 $7.49 $3.60 $3.60 $7.87 $7.53
2Q Absorption 199,748 564,220 28,548 26,186 171,200 538,034
YTD Absorption 448,008 850,003 28,548 11,912 419,460 838,091

*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 Industrial under San Antonio Market Data Sources.

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

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