Office Report: Rents Rise, Vacancies Flat

The San Antonio office market remained steady in the middle of Q3 2017, with vacancy remaining flat at 12.2%, absorption at 83,183 and the average rental rate at more than $22 per square foot. The rate reached as high as $22.35 per square foot, an all-time high and an increase of 5.1% year over year, according to data released by NAI Partners.

Meanwhile, no new construction was added to the market, while 30,000 square feet was delivered. Silver Ventures’ Broadway, an $84-million, mixed-use office and retail development, will deliver close to 350,000 square feet. Groundbreaking is anticipated to commence in September 2017, with completion anticipated for fall 2019.

For comments, questions or concerns, please contact Amy Sorter