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Market Trend: San Antonio's Office Vacancy Decreases to 10.8%

Net Absorption Positive 187,567 SF in the Quarter
July 22, 2013
The San Antonio Office market ended the second quarter 2013 with a vacancy rate of 10.8%.

The vacancy rate was down over the previous quarter, with net absorption totaling positive 187,567 square feet in the second quarter. That compares to positive 301,582 square feet in the first quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 257,362 square feet.

Tenants moving into large blocks of space in 2013 include: University Health Systems moving into 287,553 square feet at Clinical Pavilion; Regus moving into 15,176 square feet at Bank of America Plaza; and Regus moving into 14,837 square feet at Promenade I at Eilan.

Rental rates ended the second quarter at $19.38, an increase over the previous quarter.

A total of six buildings delivered to the market in the quarter totaling 49,224 square feet, with 403,144 square feet still under construction at the end of the quarter.

This trend is compared to the U.S. National Office vacancy rate, which decreased to 11.7% from the previous quarter, with net absorption positive 21.27 million square feet in the second quarter. Average rental rates increased to $21.60, and 219 buildings delivered to the market totaling more than 10.25 million square feet.

The information in this news report is based on CoStar’s Second Quarter 2013 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.

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