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San Antonio office 2Q 2013: Newmark Grubb Knight FrankSan Antonio office 2Q 2013: Newmark Grubb Knight Frankhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=62512013-09-24T10:23:00Z2013-09-24T00:00:00Z

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.

San Antonio Submarket Statistics 2Q 2013
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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