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Regional Summaries

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San Antonio, TX

Apartment
An apartment boom is peaking in metro San Antonio, with 4,133 new units added and 3,884 absorbed in 2016 through October, according to Reis. The inventory is 169,200, and the October vacancy rate is 6.0%, essentially unchanged from the start of the year. Average rents increased 1.1% by both measures in the third quarter of 2016 to $866 per month asking and $831 per month effective. An increase of 0.1% by both measures in October brought the year-to-date gains to 2.8% asking and 3.0% effective. VIEW APARTMENT LISTINGS >
Industrial
San Antonio’s 41.6-million-square-foot warehouse/distribution competitive space market, according to Reis, reported an 8.3% vacancy rate for October 2016, up 50 basis points year-to-date. The average asking rent was up 1.6% year-to-date to $5.03 psf in October, with the average effective rent up 1.7% to $4.70 psf. The 8.96-million-square-foot San Antonio Flex/R&D market remains quiet, with no recent development or space under construction. Net absorption totaled minus 12,000 square feet for 2016 through October, when the vacancy rate of 6.5% was up 10 basis points year-to-date. The average asking rent was up 1.6% year-to-date to $8.24 psf in October, with the average effective rent up 1.7% to $7.57 psf. VIEW INDUSTRIAL LISTINGS >
Office
The 30.1-million-square-foot general purpose, multi-tenant San Antonio office market has slowed after an active first quarter of 2016, Reis data report. The October vacancy rate of 17.8% was down 80 basis points year-to-date. Rent gains were slow in the first half of 2016 and have stalled since. In the third quarter, the average asking rent was unchanged at $20.88 psf, and the average effective rent slipped 0.1% to $16.72 psf. There was no further change in October, when the year-to-date gain was just 0.6% asking and 0.7% effective. VIEW OFFICE LISTINGS >
Retail
Occupancy remains stable in the 29.7-million-square-foot San Antonio community-neighborhood shopping center market, but rents are weak. The October 2016 vacancy rate was 10.1%, down 40 basis points year-to-date. The average asking and effective rents for October were $15.77 psf and $14.03 psf, up just 0.3% and 0.4%, respectively, year-to-date. The third quarter accounted for that entire gain. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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