Negative Absorption Hits San Antonio Office Market

Negative absorption and climbing rents highlighted San Antonio office space metrics for May 2018. According to NAI Partners’ May 2018 Monthly Market Snapshot, total year-to-date absorption stood at negative 75,381 square feet, with no new space delivered to market. Full-service rents were $22.11 on average for existing space, and $34.71 per square foot for under-construction office space.

The report noted that contributions to negative absorption included the following:

• 46,000 square feet of direct space from Office at the Mall, 4522 Fredericksburg Rd., put back on the market
• 45,000 square feet of vacant space available in Oaks at University Business Park, 12238 Silicon Dr.

Vacancy also ticked up slightly midway through Q2 at 10%, a slight increase from the 9.9% reported at the end of 2017.

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