Demand for San Antonio Industrial Space is Ahead Y-O-Y
Overall vacancy in the San Antonio industrial market is at 6.4 percent, down from this time last year at 7.2 percent, according to a recent report by NAI Partners. The occupancy rate of the seven buildings totaling 827,000 square feet delivered to the market in 2021 stands at 68.2 percent. Of the 18 properties comprising 6.7 million square feet under construction, the availability rate stands at 16.1 percent. The asking price for industrial properties is currently at an average monthly rate of $0.57 per square foot, up from this time last year at $0.50 per square foot due largely to the new product added to the market.
Demand for San Antonio industrial space is way ahead of the game compared to this time last year with 1.4 million square feet of net absorption recorded so far in 2021, the report indicates. February 2020 year-to-date registered at negative 276,000 square feet. In addition, leasing activity—which is comprised of both new leases and renewals—registered 4.5 million square feet, due primarily to Amazon signing a 3.8 million-square-foot lease for a fulfillment center at 6806 Cal Turner Dr., dubbed Project Star, in San Antonio’s South submarket. The company plans to occupy the new space once completed in first quarter 2022.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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