Report: Net Absorption up 100% Year-Over-Year in San Antonio Industrial Market

A recent report from NAI Partners has found that net absorptions in the San Antonio industrial market (814,000 square feet) is up 100% year-over-year from 2021 (409,000 square feet). In fact, January marks the highest amount of net absorption in the month of January on record.

Other key metrics in the report included overall vacancy, which has tightened to 4.6%, dropping 160 basis points from this time last year. Availability is at 7.7%, down 80 basis points from January 2021. The San Antonio metro NNN average asking monthly rent is at $0.56 per sq. ft., up from $0.53 this time last year.

NAI also reports that construction is at an all-time high in the San Antonio industrial market. Currently there is 10.8 million square feet under construction with much of that growth being driven by Amazon’s expansion in the metro area. Outside of Amazon, notable projects include a build-to-suit for Navistar (900,000 square feet) as well as Aisin’s 500,000-square-foot manufacturing facility in Cibolo, which will house approximately 900 workers.