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REOC: San Antonio 2Q 2015 medical office marketREOC: San Antonio 2Q 2015 medical office markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=672015-08-25T10:00:00Z

SAN ANTONIO - The medical office market closed the quarter with a citywide vacancy rate of 19.5 percent — unchanged from last quarter but softened compared to 17.5 percent recorded 2Q 2014, in part, to the addition of nearly 200,000 sf of new inventory over the past 18 months.

The cost of renting medical office space stepped up $0.24 compared to 2Q 2014 to close the quarter at a citywide average rate of $24.05 per sf per year on a full-service basis which marks a modest annual increase of only 1 percent.

Increased vacancy and flat absorption combine to limit rental rate growth. Pre-leasing success in buildings such as Inwood Medical Office (20,887 sf) and Rogers Rd. Medical Plaza (32,390 sf) will bolster absorption figures in third quarter.

REOC San Antonio: 2Q 2015 Medical Office Building*
All Types Citywide CBD Non-CBD
2Q 2015 2Q 2014 2Q 2015 2Q 2014 2Q 2015 2Q 2014
Inventory 6,879,450 6,662,911 1,059,393 1,012,037 5,820,057 5,650,874
Available 1,339,748 1,167,178 142,553 82,960 1,197,195 1,084,218
Vacant 19.5% 17.5% 13.5% 8.2% 20.6% 19.2%
Average rent $24.05 $23.81 $20.23 $20.78 $24.74 $24.35
2Q absorption 1,874 72,376 18,902 -900 -17,028 73,276
YTD absorption -18,674 146,170 12,262 -900 -30,936 147,070


*Statistics based on all multi-tenant medical office buildings 20,000 sf and larger excluding single-tenant, owner-occupied and government buildings.

Source: REOC San Antonio

Click San Antonio Market Research, San Antonio NewsTalk for more quarterly reports.

REOC San Antonio
San Antonio-New Braunfels
Medical
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