SA Retail Market Reflects Record Occupancy Rates, Meager Pipeline

San Antonio’s retail market is reporting a record high occupancy of 95.0 percent at mid-year 2024 as it benefits from a decade and a half of balance in supply and demand. 

Demand remains strong for well-located vacancies at a time of extremely low deliveries of new retail space. 

Further, that new space market is dominated by anchor stores, with limited small-shop space. 

These findings are based on Weitzman’s review of San Antonio’s retail inventory, which is approximately 48.8 million square feet in shopping centers with 25,000 square feet or more. 

Based on new retail projects on track for completion in calendar-year 2024, San Antonio is forecasted to report approximately 280,400 square feet in retail projects with 25,000 square feet or more. 

This forecasted total would set a near-record low for the market, second only to 2023’s new space deliveries totaling approximately 279,000 square feet