San Antonio Photo

June 29, 2017 Comments Off on Office Leasing Revs Up, Vacancy Remains Steady Views: 655 San Antonio, Texas News

Office Leasing Revs Up, Vacancy Remains Steady

Net office absorption in Q2 2017 throughout the San Antonio metro stood at 226,597 square feet, while asking rents remained near highs, at $21.64-per-square-foot, according to metrics from CBRE. Additionally, vacancy remained at 14.8%, as close to 390,000 square feet of new products delivered, with occupancy reported at 40%. The CBRE Marketview report also pointed out that office demand was highest in the Northwest submarkets.

The main reason for the uptick in office leasing (and prices) has to do with demand. The CBRE report noted that the metro has added a net 5,100 jobs year-to-date, and 24,900 jobs year over year, as of May 2017. Meanwhile, the unemployment rate keeps coming in well below the state’s average of 4.1%.

Download the Report

Connect with CBRE’s San Antonio Office


Subscribe to Connect Daily Texas

For comments, questions or concerns, please contact Amy Sorter

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

Tags: , ,

Comments are closed.