September 19, 2019
While vacancies amid San Antonio’s industrial sector were up in August 2019, so was absorption. According to NAI Partners, overall vacancy stood at 6.8%, an increase from the 6.2% reported in August 2018. Meanwhile, the 2.3 million square feet of absorption registered was a 2.1 million-square-foot increase from the -203,904 square feet from the year before.
NAI Partners indicated that 870,000 square feet has been delivered to the market so far in 2019. Meanwhile, the 2.4 million square feet under construction was below the 4.3 million square feet reported in August 2018. The average asking rent was also slightly down, to $0.50-per-square-foot.
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