San Antonio’s retail sector rebounds in 3Q 2012

SAN ANTONIO – Tenant activity, combined with a very lean development pipeline, proved to be a winning formula for San Antonio’s retail market in third quarter 2012.

Tenant activity led to the absorption of more than 450,000 sf of space between July and September — bringing the year-to-date total to more than 750,000 sf of positive space absorption, according to NAI REOC San Antonio.

Deals that helped to backfill spaces left behind include Spec’s Wine, Spirits and Fine Foods, filling two sizeable vacancies — a 42,000 sf space at North Central Side in The Concourse Shopping Center and a 27,200 sf space at DeZavala Crossing on the Northwest Side.

Citywide average asking rental rates rose a modest 20 cents — going from $18.17 per sf as of 3Q 2011 to $18.37 in 3Q 2012.