REOC: San Antonio 1Q 2015 retail overviewREOC: San Antonio 1Q 2015 retail overviewhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=9922015-05-19T15:31:00Z2015-05-19T07:30:00Z

SAN ANTONIO - The San Antonio retail market experienced a strong first quarter. San Antonio’s stable economy and growing population continue to support demand for retail space.

Over the past twelve months, the San Antonio metro area added nearly 32,000 jobs for an annual growth rate of 3.4 percent, according to the Texas Workforce Commission.

The 260,000-sf Phase V expansion at The Rim coupled with the completion of the 40,000-sf LA Fitness at The Vineyard accounted for the totality of 300,000 sf of new supply delivered to the market.

These additions also accounted for 60 percent of the total 488,934 sf of positive net absorption experienced.

The local retail market continues to make gains while developers remain steadfast in their efforts to lock in tenants before moving forward with too much construction.

REOC San Antonio: 1Q 2015 Retail*
All Types Citywide CBD / South Non-CBD / North
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 46,999,000 47,211,587 6,365,096 6,244,326 40,633,904 40,967,261
Direct vacant 4,736,494 4,249,879 743,030 587,816 3,993,464 3,662,063
Vacant 10.1% 9.0% 11.7% 9.4% 9.8% 8.9%
Average rent $16.42 $16.51 $14.71 $15.29 $16.55 $16.61
1Q absorption 288,308 488,934 55,652 20,649 232,656 468,285
YTD absorption 288,308 488,934 55,652 20,649 232,656 468,285

*Statistics based on multi-tenant centers totaling 20,000 sf and larger (including both leaseable and separately owned inline space). Rental rates reflect non-weighted strict average asking rates quoted on an annual triple net basis (excluding regional malls).

Source: REOC San Antonio

Here's the full Quarterly Retail Report 1Q 2015.

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

REOC San Antonio
San Antonio-New Braunfels
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