2013 Q1 Fundamentals Report for San Antonio, TX by Transwestern

2013 kicked off the year on a positive note as the labor market
continued to recover and the local commercial real estate market
tightened further.

The Multifamily sector has cooled off in recent
quarters with the overall vacancy rate stabilizing at 7.6 percent. A
steady supply of new construction has put downward pressure on
occupancy rates but rental rates continued to improve and
increased $0.02 from the previous quarter and are up $0.05 from a
year ago.

The office leasing market continued its half-speed
recovery as the Full (Macro) market registered over a quarter of a
million square feet of positive net absorption during the quarter.
The overall vacancy rate in the office market remains in double
digits and rental rates have not witnessed significant gains. The
Retail market posted respectable positive net absorption of over
650,000 square feet as occupancy increased for the fourth consecutive quarter reaching 94.5 percent during the first three months.

While rental rates have not recovered, the retail leasing market
should gain momentum during the second half of 2013 and landlords will be in a better position to begin slowly raising asking
rates. Compared with the other three core property types, the
Industrial market trails only the Multifamily sector in its pace of
recovery. The… (Read more here)

This entry was posted in 2013, Market trends, Multifamily, Office, Report, San Antonio. Bookmark the permalink.

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