SAN ANTONIO – Local office vacancy rose in July due in part to delivery of vacant space into the market.
According to NAI Partners, vacancy increased over the year to 10.7 percent. Availability rose from 11.8 percent to 13.9 percent.
There was 255,000 sf of vacant space delivered so far in 2020, 63.6 percent of the total 400,319 sf completed.
There is 1.8 million sf under construction.
Net absorption fell from 181,000 sf to negative 197,000 sf.
The asking price increased from $22.82 to $23.56 per sf.
The Real Estate Center has more on San Antonio’s office market:
Source: Connect Media