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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REOC Releases 2Q 2017 Office Market Report

Source: REOC San Antonio

Source: REOC San Antonio

The San Antonio office market continued steadily on its positive trend in the second quarter accompanied by the delivery of 389,369 square feet of new office lease space.  The much anticipated Landmark One building (164,351 sf) came online at the intersection of Loop 1604 & IH-10 in the North West submarket with two signed tenants – Chicago Title (8,295 sf) and Forge Energy (14,402 sf).

With new supply outpacing demand in the second quarter, the citywide vacancy rate loosened slightly to 15.1%, up 0.4 percentage points compared to last quarter but still dramatically improved compared to 18.0% recorded a year ago.

The development pipeline contains nearly 852,000 square feet of projects in various stages of construction led by Frost Bank Tower (462,000 sf) downtown.  Other projects include recently announced Pinnacle Oaks (80,532 sf) – a tech-focused project planned at Loop 1604 & Lockhill Selma which is expected to break ground in the third quarter.

Click here to access REOC San Antonio’s 2Q17 Office Snapshot report.

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