Office market getting tighter in San AntonioOffice market getting tighter in San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=73452013-05-30T09:17:00Z2013-05-21T00:00:00Z

SAN ANTONIO - A run of significant leases, combined with an ever-increasing demand for top-tier space, has many office developers building new projects.

During first quarter 2013, work began on two new office buildings — a total of 108,500 sf — according to the latest analysis by NAI REOC San Antonio.

On the far North Side, R.L. Worth & Associates broke ground on the first building in its new Ridgewood Business Center — a 65,000-sf structure that will be anchored by Pulte Homes.

Also in the works is a 43,500-sf building on the far North Side by Japhet Builders. Known as Shavano Center IV, the building is part of a larger office park located off of Paesanos Pkwy.

The developers in these two projects are building to user demand for their product, explains Kim Gatley, senior vice president and director of research for NAI REOC.

Over the past four years combined, the local office market has delivered roughly 1 million sf of space — quite a drop from the 1.3 million delivered in one single year.

Adding up the space in the handful of proposed office projects making the rounds in the local real estate community, it appears developers have upwards of 350,000 sf of new space on the drawing board.

Read more at the San Antonio Business Journal.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/print-edition/2013/05/17/citys-office-market-is-getting.htmlRead more at {Source}

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