REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Industrial Market Looking Forward to a Solid Year Ahead

1Q17_SAIndSnap.xlsAfter a vigorous performance in 2016, it seems as if the San Antonio industrial market paused in the first quarter to catch its breath.  Despite new leases and expansions, the market experienced 84,529 square feet of negative net absorption.

New supply easily outpaced demand with four projects totaling more than 323,000 square feet of industrial space delivered to the market before the end of March. The citywide vacancy rates for distribution warehouse facilities loosened to 11.0% compared to 8.4% last quarter while the vacancy rate for service center/flex properties increased to 8.9% compared to 7.6%.

The average cost for renting distribution warehouse space currently stands at $4.75 per square foot on an annual, triple net basis, which is up by $0.52 compared to last year at this time.

The trend of large national tenants finding opportunity to grow in San Antonio continues.  Similar to Dollar General, which opened its one million square foot distribution center nearly a year ago, the parent company of TJ MAXX and Marshall’s is the latest retailer to consider San Antonio for their next distribution center.

Click here to access the full REOC San Antonio Industrial Snapshot Reoprt

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