San Antonio office 2Q 2013: Newmark Grubb Knight Frank
SAN ANTONIO – The San Antonio office market recorded 177,032 sf of positive absorption during second quarter 2013. This is the third consecutive quarter of positive absorption greater than 120,000 sf that brought the mid-year total to just under 300,000 sf of new net occupancy.
Complementing positive absorption, vacancy rates are diminishing with a result of 14.7 percent in June 2013.
Class A properties lay claim to the majority of the absorption, recording 133,521 sf in 2Q 2013. However, with nearly 300,000 sf to be delivered in the remainder of 2013, vacancy rates are expected to rise when these properties are factored into the statistics.
Rental rates have remained consistent over the last two quarters at $20.30 per sf overall on a weighted average.
| Submarket | Total Inventory (SF) | Total Vacancy Rate | YTD Absorption (SF) | Direct Asking Rent* |
| CBD | 5,069,708 | 15.2% | 54,923 | $21.88 |
| Suburban | 21,825,822 | 14.6% | 244,112 | $24.05 |
| Far North Central | 2,093,176 | 12.9% | 17,130 | $21.80 |
| Far Northwest | 461,154 | 27.7% | 17,549 | $23.06 |
| Far West | 201,986 | 0.0% | 0 | NA |
| North Central | 8,509,163 | 13.1% | 15,371 | $23.99 |
| Northeast | 2,052,504 | 13.2% | 92,792 | $28.18 |
| Northwest | 8,035,238 | 16.2% | 101,270 | $23.29 |
| South | 472,601 | 19.5% | 0 | NA |
| San Antonio | 26,895,530 | 14.7% | 299,035 | $23.81 |
*Per SF/YR
Read more at Newmark Grubb Knight Frank.
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