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Regional Summaries

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San Antonio, TX

Apartment
The 173,748-unit San Antonio apartment market continues to absorb apartments nearly as fast as they are built. Through October, the 2017 totals were 3,204 new apartments added and 2,405 absorbed, and the October vacancy rate of 5.2% was up just 30 basis points year-to-date—and little more than half the peak rate of 10.3% in 2009. Rent gains have been faster than overall inflation here since 2009. In 2017, Reis reports the average asking rent was up 3.0% to $898 per month in October, with the average effective rent up 2.5% to $860 per month. VIEW APARTMENT LISTINGS >
Industrial
Net absorption has been negative since early in the year in San Antonio’s 42-million-square-foot warehouse/distribution space market, and the year-to-date total through October 2017 was just 18,000 square feet. While most development has been outside of Reis submarkets through most of 2017, the 207,000 square feet added through October was enough to push the vacancy rate up 40 basis points year-to-date to 8.4%. The average asking rent was up 1.8% year-to-date to $5.20 psf in October, with the average effective rent up 1.8% to $4.86 psf. The 8.96-million-square-foot San Antonio Flex/R&D market had just 16,000 square feet of net absorption in 2017 through October, with no new supply. The October vacancy rate is 6.4%, down 20 basis points year-to-date. The average asking rent was up 2.4% year-to-date to $8.57 psf in October, with the average effective rent up 2.7% to $7.89 psf. VIEW INDUSTRIAL LISTINGS >
Office
Development has exceeded demand in 2017 in the 30-million-square-foot general purpose, multi-tenant San Antonio office market, at least through October. The new supply and net absorption totals as of that month were 661,000 and 375,000 square feet, with the vacancy rate up 80 basis points to 16.3%. In October 2017, the average asking rent was $21.68 psf, and the average effective rent was $17.42 psf after strong gains of 3.3% apiece year-to-date. VIEW OFFICE LISTINGS >
Retail
The 29.8-million-square-foot San Antonio community-neighborhood shopping center market had gotten 85,417 square feet of new supply in 2017 through October, but strong demand had the vacancy rate fall 30 basis points year-to-date to 9.4% that month. Rent gains are expected to be limited for community-neighborhood centers. In October 2017, the average asking rent was $16.10 psf, up 1.2% year-to-date, and the average effective rent was $14.35 psf, up 1.4%. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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