Office Rents Continue Climbing, Vacancy Remains Flat

Office rents in the San Antonio metro continued rising in Q2 2018, topping out at an all-time high of $22.24 per square foot, according to information from NAI Partners. The asking rent represents a year-over-year increase of $0.75. Vacancy, in the meantime, remained flat at 10%, having increased by 10 basis points from the year before.

Though net absorption stood at a positive 103,796 square feet, it was down from the 302,671 square feet reported in Q2 2017. New supply delivered clocked in at 108,442 square feet, while leasing activity stood at 543,837.

The NAI Partners report also indicated that the amount of space under construction was one million square feet, including owner-occupied buildings.

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