Office Market Remaining Steady

The San Antonio office market has remained steady as the calendar moves to the end of Q3 2017. Vacancy increased slightly to 12.6%, while year-to-date net absorption was at 125,871, according to September data from NAI Partners. In the meantime, 531,075 square feet of office space has delivered so far this year.

Also on the rise is the market’s full-service rental rate. The average rate is $22.34 per square foot, which is a 5% increase year over year, and a rate that is at an all-time high.

The San Antonio economy grew at a steady pace in July 2017. While jobs stayed flat, the area unemployment rate declined to 3.6%, from 3.8% in June.

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