Vista Corporate Center Rendering, San Antonio

March 9, 2017 Comments Off on CBD Demand Drops Office Vacancy Rates Views: 169 San Antonio, Texas News

CBD Demand Drops Office Vacancy Rates

Connect is coming to Austin! Learn more here.

A building demand for office space in San Antonio’s downtown business district was one of the key drivers for a drop in vacancy rates to 12.7% in Q4 2016. And according to metrics from NAI Partners, vacancy continued falling in February 2017, while absorption climbed. Specifically, quarter to date direct vacancy was 12.3% in February (total with sublease was 12.6%), while total net absorption for the quarter to date was 53,707 (with sublet space, 37.447).

Asking rents didn’t budge much; in Q1 2016, direct asking rent was $20.72. In the quarter to date, direct asking rent was $21. Leasing transactions of note included USAA’s 100% occupancy of Vista Corporate Center and WestRidge Two at La Cantera.

Read More at NAI Partners


Subscribe to Connect Daily Texas

For comments, questions or concerns, please contact Amy Sorter

For advertising information, please contact Joni Margotta

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: ,

Comments are closed.