Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
San Antonio Retail Market Shows Stability
Weitzman’s new report on the San Antonio retail market shows a return to stability. Robert King, senior vice president with Weitzman in San Antonio, covers some of the report’s key findings.
ConnectCRE: How does occupancy look at mid-year?
King: The retail market is at 93.6 percent occupied at mid-year, halting the decline we saw during the pandemic challenges of 2020. We expect even more improvement through 2021 and 2022.
ConnectCRE: Why did occupancy improve?
King: Retailers, restaurants and services saw a return to healthy shopper traffic thanks to the effectiveness of vaccines. Closings also declined significantly compared to 2020, and spaces vacated last year are already being backfilled.
ConnectCRE: What about new construction?
King: Construction remains strongly conservative. We’re on track for around 415,000 square feet in projects with 25,000 square feet-plus. One new anchor, Costco, will account for more than one-third of all new space in 2021.
- ◦Lease
- ◦Sale/Acquisition
- ◦Development
