Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
San Antonio Industrial Numbers Reach Record Levels
San Antonio’s industrial vacancy rate dropped 10 basis points quarter-over-quarter from 4.2%, a new record. The record was partly due to record-breaking leasing activity. 107 lease transactions, comprised of both new leases and renewals, we executed in the second quarter of this year.
A recent NAI/Partners survey found that average asking NNN rents were up 40 basis points from last years $0.57. It averaged out at $0.61 during Q2 2022. As developers experience rising costs associated with bringing high-quality new projects to the market, rental rates may remain elevated.
Sales volume of parks and buildings is up from Q1 2022, from $113 million to $136 million at the end of Q2. Nearly half of all sellers were REIT’s.
- ◦Economy
