Market Trend: San Antonio’s office vacancy stays at 10.9%

SAN ANTONIO – The San Antonio Office market ended first quarter 2014 with a vacancy rate of 10.9 percent. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 146,700 sf in 1Q. That compares to positive 193,256 sf in 4Q 2013.

Vacant sublease space decreased in the quarter, ending the quarter at 139,794 sf.

Rental rates ended the first quarter at $19.36, a decrease over the previous quarter.

A total of 12 buildings delivered to the market in the quarter totaling 231,401 sf, with 629,446 sf still under construction at the end of the quarter.

This trend is compared to the U.S. National Office vacancy rate, which decreased to 11.5 percent from the previous quarter, with net absorption positive 21.68 million sf in 1Q. Average rental rates increased to $22.17, and 321 buildings delivered to the market totaling more than 16.1 million sf.

Source: CoStar Group