REOC: San Antonio 2Q 2015 retail market
SAN ANTONIO – The San Antonio retail market closed second quarter 2015 with a citywide vacancy rate of 10 percent.
There were no notable deliveries in 2Q but more than 826,000 sf of multi-tenant retail space is currently under construction led by the redevelopment of the former Joske’s Building at RiverCenter Mall downtown.
The remaining projects under construction are mostly smaller, unanchored centers scattered throughout the market in niche locations.
| All Types | Citywide | CBD / South | Non-CBD / North | |||
| 2Q 2015 | 2Q 2014 | 2Q 2015 | 2Q 2014 | 2Q 2015 | 2Q 2014 | |
| Inventory | 47,163,523 | 47,164,952 | 6,244,326 | 6,375,326 | 40,919,197 | 40,789,626 |
| Direct vacant | 4,721,976 | 4,679,243 | 580,536 | 757,115 | 4,141,440 | 3,922,128 |
| Vacant | 10.0% | 9.9% | 9.3% | 11.9% | 10.1% | 9.6% |
| Average rent | $16.30 | $16.58 | $15.24 | $15.50 | $16.40 | $16.67 |
| 2Q absorption | 65,962 | 108,746 | -1,377 | -13,799 | 67,339 | 122,545 |
| YTD absorption | 230,479 | 371,043 | 27,949 | 41,853 | 202,530 | 329,190 |
*Statistics based on multi-tenant centers totaling 20,000 sf and larger (including both leaseable and separately owned inline space). Rental rates reflect non-weighted strict average asking rates quoted on an annual triple net basis (excluding regional malls).
Source: REOC San Antonio (all reports)
Don’t forget! See San Antonio Market Research for more quarterly reports.
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