{{titleBar.title}}

{{titleBar.tagline}}

 

 

San Antonio 1Q 2014 office REOCSan Antonio 1Q 2014 office REOChttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=41572014-06-02T09:03:00Z2014-05-21T00:00:00Z

SAN ANTONIO - REOC's first quarter 2014 survey of more than 28.4 million sf of office lease space. New leases and expansions inked this quarter helped to generate 335,672 sf of positive net absorption in the first three months of this year.

That is more than accumulated for all of last year and, particularly, a marked improvement compared to the flat performance recorded in 4Q 2013, which yielded less than 35,000 sf.

Overall, the citywide vacancy rate improved to 18.4 percent compared to 19.5 percent 4Q 2013 and 19.8 percent recorded in 1Q 2013. The citywide average cost for renting Class A space stands at $25.27 — up $0.40 or 1.6 percent compared to a year ago.

San Antonio 1Q 2014 Office Report*
All Classes Citywide CBD Non-CBD
1Q 2014 1Q 2013 1Q 2014 1Q 2013 1Q 2014 1Q 2013
Inventory 28,417,306 28,051,679 5,728,263 5,655,355 22,689,043 22,396,324
Direct Vacant 5,222,040 5,550,560 1,596,113 1,681,014 3,625,927 3,869,546
Vacant 18.4% 19.8% 27.9% 29.7% 16.0% 17.3%
Average rent $19.77 $19.34 $19.86 $19.36 $19.76 $19.34
1Q absorption 335,672 120,762 120,222 21,196 215,450 99,566
YTD absorption 335,672 120,762 120,222 21,196 215,450 99,566

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

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

 Search NewsTalk Texas