San Antonio retail overview 3Q 2012: Marcus & MillichapSan Antonio retail overview 3Q 2012: Marcus & Millichaphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=92012012-10-25T11:45:00Z2012-10-25T11:00:00Z

SAN ANTONIO - The third quarter 2012 retail overview for the San Antonio area has been released by Marcus & Millichap.

San Antonio is the last of the Texas Triangle markets to enter the economic recovery, which means the retail market is only now reaching a tipping point.

Over the past year, employers in San Antonio hired an additional 13,300 workers, expanding payrolls by 1.6 percent. During the first six months of this year, employment growth accelerated to 15,100 spots.

In the last year, developers added 420,000 sf of retail space to inventory in San Antonio. Only 600,000 sf of space is under construction across the metro, however, nearly 6.2 million sf of retail space is planned in the market.

Operators have lifted asking rents 1.4 percent over the past year to $14.45 per sf in an effort to keep pace with inflation.

Submarket Vacancy Rate
Submarket Vacancy
Y-O-Y Basis
Point Change
Rents (psf)
South 6.0% -20 $11.69 0.4%
North / North Central 8.7% 30 $13.70 1.4%
Northwest 10.5% 20 $11.09 1.4%
Northeast 12.5% 160 $13.69 2.2%

For more information, visit Marcus & Millichap Real Estate Investment Services.

Marcus & Millichap Real Estate Investment Services
San Antonio-New Braunfels
https://www.marcusmillichap.com/research/reports/retail/sanantonio_3q12lrr.pdfRead more at {Source}

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