SAN ANTONIO – Four speculative projects delivered in 3Q2020, adding 841,161 sf to the local industrial market, according to CBRE.
The deliveries caused vacancy to increase by 160 basis points from 12.6 percent in the second quarter to 14.2 percent in the third.
Net absorption registered at 57,577 sf, down from the last quarter.
Thirteen projects totaling 1.8 million sf are under construction.
Average asking rates rose to $7.96 per sf.
The Real Estate Center has more on San Antonio’s industrial market:
Source: CBRE