SAN ANTONIO – The local office market opened the year on a stable note, according to a 1Q2020 CBRE report.
Total market absorption closed out the first quarter at 15,959 sf.
The marketwide asking rate increased $0.14 quarter over quarter to $23.08 per sf.
Office vacancy increased 40 basis points over the quarter to 14 percent.
There is 1.5 million sf of space under construction across the metro. Last quarter, 82,719 sf of space came online.
The Real Estate Center has more on San Antonio’s office market:
Source: CBRE