February 2, 2017
The San Antonio office market experienced a record 2016, absorbing just under 1.3 million square feet, according to data from Tranwestern. In comparison, the average annual absorption rate over the last five years averaged 604,000 square feet in Q4.
Leading the way in Q4 for the Alamo City was USAA’s set of building leases at VISTA Corporate Center (157,472 square feet) and Westridge Two at La Cantera (129,015 square feet). Also in the hopper was Oracle’s 50,576-square-foot lease at The Spectrum, and Time Warner’s 51,298 square feet at One51 Office Center.
Additionally, growing demand increased delivery to the market during the past two years, with 1.6 million square feet coming online since 2015.
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