Source: REOC San Antonio
The mid-year check up of the San Antonio medical office market remained steady and positive. The survey of more than 7.2 million square feet of separately tracked medical-only office space revealed that the citywide vacancy rate remained relatively unchanged at 20.0% compared to 20.1% at mid-year 2016 as new inventory offset positive absorption.
As positive absorption was offset by the addition of new product, the citywide vacancy rate remained unchanged. Still, the robust healthcare industry continues to be a leading pillar in the city’s stable economy.
Average quoted rental rates increased $.10 in the second quarter from the previous quarter to reach $25.02 per square foot on an annual full-service basis – which reflects an over-the-year increase of nearly 2%.
Click here to access REOC San Antonio’s 2Q17 Medical Snapshot report.
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