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Report: San Antonio Office Market Starts off 2022 Strong
A new report from NAI Partners has found that one month into 2022, overall vacancy is at 11.2% in San Antonio’s office market. That number is up 30 basis points from this time last year. Availability is at 14.7%, down 20 basis points from January 2021.
Even with the increase in vacancy, leasing activity was up 82% year-over-year, according to NAI. There were around 50 lease transactions that took place in January 2022 ranging in size from 400 square feet to 20,000 square feet. Net absorption fell during the month of January due in part to 90,435 square feet being added back to the market at 305-315 E. Houston St.
On the construction side, San Antonio has 1.4 million square feet underway currently, which represents 2.2% of inventory. Jackson Walker has signed a lease to occupy the 13-story Jefferson Bank building currently under construction at 1900 Broadway. The law firm plans to occupy space on multiple floors within the building.
- ◦Development
- ◦Economy
