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Net Absorption Returns to the Positive Side for San Antonio Retail

Net absorption in the San Antonio retail market returned to positive territory in fourth-quarter 2020, at 154,000 square feet, according to NAI Partners. This followed the third quarter’s -146,000-square-foot tally, only the fourth time in almost a decade the San Antonio retail market recorded negative net absorption.

For the full year, net absorption finished 2020 at positive 81,000 square feet. Leasing activity, which is comprised of both new leases and renewals, included 357,000 square feet of signed deals, down by almost 50% from this time last year, and less than the previous quarter’s 556,000 square feet.

The overall occupancy rate decreased slightly by 10 basis points quarter-over-quarter, at 100 basis points year-over-year at 94.2 percent. The retail market recorded a drop in overall average asking rates of 0.7% per square foot in the past year to finish at $15.96 on a triple-net basis. A year ago, average rates were at $16.07, says NAI Partners.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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