CoStar: San Antonio industrial vacancy decrease to 6.3%

SAN ANTONIO – The San Antonio Industrial market ended second quarter 2013 with a vacancy rate of 6.3 percent, according to CoStar Group.

The vacancy rate was down over 1Q 2013, with net absorption totaling positive 136,425 sf in 2Q 2013. That compares to positive 266,856 sf in 1Q 2013. Vacant sublease space decreased in 2Q 2013, ending at 446,230 sf.

Tenants moving into large blocks of space in 2013 include:

• IRD moving into 44,000 sf at 4990 Eisenhauer Rd.
• Aries Automotive moving into 35,200 sf at Tri-County-Building 6
• Maverick Flooring moving into 20,400 sf at 10331 N IH 35

Rental rates ended 2Q 2013 at $5.60, an increase over the previous quarter.

A total of five buildings delivered to the market in 2Q 2013 totaling 47,900 sf, with 2,391,108 sf still under construction at the end of the quarter.

This trend is compared to the U.S. National Industrial vacancy rate, which decreased to 8.5 percent from the previous quarter, with net absorption positive 44.6 million sf in 2Q 2013.

Average rental rates increased to $5.25 this quarter, and 167 industrial buildings delivered to the market totaling almost 17.5 million sf.

Read more at CoStar Group.