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San Antonio, TX

Apartment
The 171,100-unit San Antonio apartment market continues to experience moderate vacancy and rent gains despite booming new supply, according to Reis. In the first four months of 2017, 1,191 new apartments completed construction within Reis submarkets, but the April vacancy rate was still just 5.3% in April, up 40 basis points year-to-date. Rents were weak in the first quarter, as both the average rent and the average effective rent decreased 0.3% to $869 and $835 per month, respectively. But this was reversed in April with a gain of 0.5% by both measures. VIEW APARTMENT LISTINGS >
Industrial
San Antonio’s 41.9-million-square-foot warehouse/distribution space market started strong in 2017, with 266,000 square feet of net absorption through April. The 135,000-square-foot Coastal Life Technologies Center Headquarters completed construction in January, but the vacancy rate was down 30 basis points year-to-date to 7.9% in April. Average rents increased 0.6% by both measures in the first quarter and 0.2% by both measures in April, ending that month at $5.10 psf asking and $4.77 psf effective. The 8.96-million-square-foot San Antonio Flex/R&D market remains weaker, with no space recently added, just one 72,000-square-foot project under construction, and low demand. Net absorption totaled minus 49,000 square feet for 2017 through April, when the vacancy rate of 7.1% was up 60 basis points year-to-date. Following an increase of 0.4% by both measures in the first quarter, the April average asking rent was up 0.2% to $8.32 psf, and the average effective rent was up 0.3% to $7.65 psf. VIEW INDUSTRIAL LISTINGS >
Office
The 30-million-square-foot general purpose, multi-tenant San Antonio office market got off to a strong start in early 2017. The 151,000-square-foot Vista Corporate Center completed construction in March, but net absorption totaled 226,000 square feet in April. The vacancy rate was 16.2% that month, down 40 basis points year-to-date. Rent gains started 2017 strong following an increase of just 1.3% by both measures in 2016. In the first quarter, the average asking rent increased 0.9% to $21.19 psf, and the average effective rent rose 1.0% to $17.00 psf. A gain of 0.1% by both measures followed in April. VIEW OFFICE LISTINGS >
Retail
The retail meltdown of early 2017 doesn’t seem to have hurt the 29.8-million-square-foot San Antonio community-neighborhood shopping center market. The market had 96,000 square feet of net absorption for the first four months of the year, and the vacancy rate fell 30 basis points year-to-date to 9.4% in April. Both the average asking rent and the average effective rent increased 1.1% in the first quarter to $16.07 psf and $14.31 psf, respectively. A gain of 0.1% by both measures followed in April. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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