Mar 4, 2014
REOC: San Antonio 4Q 2013 medical office review
SAN ANTONIO - The local medical office market experienced 39,409 sf of positive net absorption in fourth quarter which raised the year-end total to 245,206 sf, according to the fourth...
SAN ANTONIO – The local medical office market experienced 39,409 sf of positive net absorption in fourth quarter which raised the year-end total to 245,206 sf, according to the fourth quarter 2014 report by REOC San Antonio.
The citywide vacancy rate remained stable over the quarter at 16.8 percent and stands improved compared to 18.0 percent recorded in the same quarter the previous year.
At the close of 4Q 2013, quoted full-service rental rates for all medical-only office property averaged $23.86 per sf on an annual basis, showing a gain of $0.06 over the previous quarter and $0.30 compared to the same quarter a year ago.
| All Types | Citywide | CBD | Non-CBD | |||
| 4Q 2013 | 4Q 2012 | 4Q 2013 | 4Q 2012 | 4Q 2013 | 4Q 2012 | |
| Inventory | 6,426,265 | 6,118,868 | 1 ,012,037 | 1,011,408 | 5 ,414,228 | 5,107,460 |
| Available | 1,078,435 | 1,100,514 | 82,060 | 122,341 | 996,375 | 978,173 |
| Vacant | 16.8% | 18.0% | 8.1% | 12.1% | 18.4% | 19.2% |
| Average rent | $23.86 | $23.56 | $20.78 | $20.08 | $24.44 | $24.25 |
| 4Q absorption | 39,409 | 41,939 | 4,690 | 10,456 | 34,719 | 31,483 |
| YTD absorption | 245,206 | 178,267 | 40,281 | 41,332 | 204,925 | 136,935 |
For the full report see REOC San Antonio.
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