Alamo City 2Q retail vacancy at 5.5 percent: CoStar

SAN ANTONIO – The San Antonio retail market experienced a slight improvement in market conditions in second quarter 2013.

The vacancy rate went from 5.7 percent in the previous quarter to 5.5 percent in the current quarter. Net absorption was positive 402,097 sf, and vacant sublease space increased by 42,285 sf. In 1Q 2013, net absorption was positive 726,406 sf.

Tenants moving into large blocks of space in 2013 include University of the Incarnate moving into 58,629 sf at New Territories; Old Navy moving into 46,000 sf at Ingram Festival Shopping Center; and Total Wine moving into 23,229 sf at 125 NW Loop 410.

Quoted rental rates increased from first quarter 2013 levels, ending at $13.89 per sf per year.

Twenty-two retail buildings with 229,581 sf of retail space were delivered to the market in 2Q, with 672,914 sf still under construction at the end of the quarter.

Read more at CoStar Group.