4Q 2013 retail: San Antonio positive absorption 493,361 SF

SAN ANTONIO – The local retail market did not experience much change in market conditions in fourth quarter 2013. The vacancy rate remained at 5.6 percent in 4Q 2013 from 3Q 2013.

Net absorption was positive 493,361 sf, and vacant sublease space increased by 46,551 sf. In 3Q 2013, net absorption was positive 61,538 sf. Quoted rental rates increased from 3Q 2013 levels, ending at $14.53 per sf per year.

Tenants moving into large blocks of space in 2013 include:

Belk moving into 95,846 sf at Town Center at Creekside;

University of the Incarnate moving into 58,629 sf at 9160 Guilbeau Rd.; and

Hobby Lobby moving into 55,042 sf at Town Center at Creekside-Phase II.

A total of 12 retail buildings with 448,988 sf of retail space were delivered to the market in the quarter, with 1,384,733 sf still under construction at the end of the quarter.

Read more at CoStar Group.