June 19, 2017 Comments Off on How is San Antonio’s Growth Impacting CRE? Views: 630 San Antonio, Texas News

How is San Antonio’s Growth Impacting CRE?

San Antonio ranks No. 3 among U.S. cities for the largest one-year population increase from July 2015 to July 2016, according to the U.S. Census Bureau. Additionally, New Braunfels, TX ranked No. 9 on the list of cities with more than 50,000 residents that experienced the highest growth rate over that one-year period.

Those growth numbers are reflected in San Antonio’s office market stats, reported by NAI Partners. Researchers found that net absorption for the overall market is at 92,147 square feet, year-to-date. After 2016 saw vacancy rates dip down to 5.7%, 2017 has seen a slight softening in the industrial market, as the metro area vacancy rate edged up to 6.5%, settling at 6.4% year-to-date.

The amount of space delivered to the market year-to-date represents 594,238 square feet, of which roughly 115,118 square feet has been occupied. As for the construction pipeline, 817,365 square feet is underway across 13 properties, with 33% pre-leased, and all scheduled for delivery 2017.

Read more at NAI Partners

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