San Antonio's industrial, office, retail vacancies fallSan Antonio's industrial, office, retail vacancies fallhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=57672013-11-11T07:10:00Z2013-11-11T06:40:00Z

SAN ANTONIO - The local commercial real estate market continues to tighten as demand for premium space grows. Each market — industrial, office and retail — saw vacancy rates fall and rental rates increase, according to data from Xceligent Inc.

Through the first three quarters of the year, the industrial sector saw the highest growth with a net gain of more than 1.1 million sf.

During third quarter 2013, the citywide vacancy rate was 7.3 percent, a nearly 34 percent drop compared with the same period last year when the vacancy rate was at 11 percent.

Tight inventory coupled with strong demand pushed up rental rates to $7.54 per sf, representing a nearly 5 percent increase over last year.

The office market saw vacancy rates slip to 19 percent, a 4.5 percent decrease from the same time last year when the rate was nearly 20 percent. For the year through 3Q 2013, the sector managed to rack up more than a 334,000-sf net gain.

For the second quarter in a row, the retail sector saw the vacancy rate fall, leading to a net gain in occupied space. During 3Q 2013, the vacancy rate fell to 10.6 percent, a 7 percent dip compared with the same time last year.

So far this year, the retail sector has posted a net gain of nearly 264,000 sf of space. Rental rates grew 46 cents to $16.33 per sf.

Read more at the San Antonio Express-News.

San Antonio Express-News
San Antonio-New Braunfels
http://www.mysanantonio.com/business/local/article/commercial-real-estate-market-sees-gains-4965513.phpRead more at {Source}

 Search NewsTalk Texas