REOC: San Antonio 2Q 2014 retail
SAN ANTONIO – What fuels the local retail market? According to the second quarter 2014 REOC retail report, employment growth continues to drive demand for housing which, in turn, drives retail.
For the 12 months ending June 2014, the greater San Antonio metro area added 22,500 jobs which equates to annual growth rate of 2.5 percent.
Looking ahead, available space will continue to dwindle, especially while development remains dominated by Walmart and other user-driven activity. However, development in high-growth and well-established niche markets is heating up.
| All Types | Citywide | CBD / South | Non-CBD / North | |||
| 2Q 2014 | 2Q 2013 | 2Q 2014 | 2Q 2013 | 2Q 2014 | 2Q 2013 | |
| Inventory | 47,164,952 | 46,489,788 | 6,375,326 | 6,365,096 | 40,789,626 | 40,124,692 |
| Direct vacant | 4,679,243 | 4,925,390 | 757,115 | 702,425 | 3,922,128 | 4,222,965 |
| Vacant | 9.9% | 10.6% | 11.9% | 11.0% | 9.6% | 10.5% |
| Average rent | $16.58 | $15.95 | $15.50 | $17.23 | $16.67 | $15.84 |
| 2Q absorption | 108,746 | 118,705 | -13,799 | -3,033 | 122,545 | 121,738 |
| YTD absorption | 371,043 | 94,487 | 41,853 | 2,878 | 329,190 | 91,609 |
*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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