September 5, 2019
Overall office vacancy in San Antonio during August 2019 stood at 10.1%, a 30-basis-point increase year-over-year, according to data from NAI Partners. Also on the rise were asking rents. The $22.78-per-square-foot reported represented a $0.54 increase from the year before. Net absorption, in the meantime, stood at 930,336 square feet, up from 160,732 square feet in August 2018.
One million square feet of office space has been delivered year-to-date, with occupancy of that space at 83.2%. Meanwhile, of the 1.1 million square feet currently under construction, half the space is spoken for. To date, 1.5 million square feet have been leased — both new leases and renewals — an 11.2% increase from the year before.
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