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REOC: San Antonio 1Q 2015 officeREOC: San Antonio 1Q 2015 officehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=9242015-05-28T07:22:00Z2015-05-27T00:00:00Z

SAN ANTONIO - Demand for space resulted in a strong first quarter start for area office properties, in fact, one of the strongest on record.

Gross leasing activity translated into 371,200 sf of positive net absorption led by the delivery of the fully-leased 158,075-sf Potranco building.

Decreasing vacancy, increasing rental rates and strong absorption characterize San Antonio’s expanding market.

While new supply creates opportunity to attract new companies to the area and accommodate existing tenants’ needs to expand and upgrade, the added space could cause vacancy rates to spike later this year if more leases are not inked prior to completion.

REOC: San Antonio 1Q 2015 Office
All Classes Citywide CBD Non-CBD
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 28,417,306 29,162,340 5,728,263 5,758,373 22,689,043 23,403,967
Direct vacant 5,222,040 5,093,070 1,596,113 1,510,685 3,625,927 3,582,385
Vacant 18.4% 17.5% 27.9% 26.2% 16.0% 15.3%
Average rent $19.77 $20.07 $19.86 $19.76 $19.76 $20.11
1Q absorption 335,672 371,200 120,222 41,968 215,450 329,232
YTD absorption 335,672 371,200 120,222 41,968 215,450 329,232


*Statistical information is calculated for multi-tenant office bldgs. 20,000 sf and larger (excluding single-tenant, owner-occupied, gov't and medical buildings).

Source: REOC San Antonio

See the full Quarterly Office Report 1Q 2015, including previous quarters.

Don't forget! Visit San Antonio-New Braunfels Market Research for more stats.

REOC San Antonio
San Antonio-New Braunfels
Office
http://reocsanantonio.com/qr.htmRead more at {Source}

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