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REOC: San Antonio 2Q 2014 officeREOC: San Antonio 2Q 2014 officehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=33092014-08-21T13:09:00Z2014-08-20T08:30:00Z

SAN ANTONIO - According to REOC San Antonio's survey of more than 28.4 million sf of office lease space, new leases and expansions inked in the second quarter generated 297,378 sf of positive net absorption which raised the year-to-date total gain to 612,054 sf.

Current absorption levels are nearly double that achieved in all of 2013 and almost four times that experienced in 2012.

In all, there is roughly 600,000 sf of new office space under construction not counting build-to-suit projects. The market hasn’t seen this much activity since 2008 when the market peaked with nearly 1.4 million sf of new speculative office space delivered.

San Antonio 2Q 2014 Office Report*
All Classes Citywide CBD Non-CBD
2Q 2014 2Q 2013 2Q 2014 2Q 2013 2Q 2014 2Q 2013
Inventory 28,421,603 28,017,141 5,728,263 5,658,503 22,693,340 22,358,638
Direct vacant 4,982,630 5,217,851 1,533,790 1,618,403 3,448,840 3,599,448
Vacant 17.5% 18.6% 26.8% 28.6% 15.2% 16.1%
Average rent $19.95 $19.45 $19.98 $19.30 $19.94 $19.47
2Q absorption 297,378 239,397 49,964 62,996 247,414 176,401
YTD absorption 612,054 376,051 182,545 121,285 429,509 254,766

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

For the full report see REOC San Antonio.

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

REOC San Antonio
San Antonio-New Braunfels
Office
http://www.reocsanantonio.com/pdf/qr/SA_OfficeSnapshot_2Q14.pdfRead more at {Source}

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