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SA Industrial Sees Negative Absorption in Q1

The San Antonio industrial market’s overall vacancy rate was up 50 basis points quarter-over-quarter to end the first quarter at 6.9%, although up only 10 bps year-over-year, NAI Partners reported. Class A space ended Q1 at 16.7% vacancy, up from 14.5% a year ago.

In addition, overall net absorption went into the red, totaling negative 323,000 square feet, down from 1.1 million square feet in the prior quarter. There is 5.3 million square feet under construction, with 40% available.

Triple-net average monthly asking rents registered at $0.50 per square foot in the first quarter, level with this time last quarter and last year.

One metric which saw a sizable Y-O-Y increase was investment sales. Citing Real Capital Analytics data, NAI Partners reported that Q1 2020 industrial sales reached $156.4 million, compared with $92.3 million in the year-ago period.

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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).