REOC San Antonio
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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Downtown office vacancies set to rise

Despite a growing supply of vacant office space in the core, not enough companies are ready to make the move downtown, a recent San Antonio Express-News article stated. 

Downtown San Antonio

The vacancy rate for office space downtown is expected to jump to about 34 percent for the second quarter, a rate the central business district hasn’t seen since the early 1990s, said Kim Gatley, a vice president for REOC San Antonio. That number reflects a rise of about 8 percentage points compared to the vacancy rate during the first quarter of this year, according to REOC figures.

The increase is due mostly to more than 400,000 square feet of space hitting the market from AT&T vacating an office building at 500 and530 McCullough Ave., Gatley added.

Click to read full article: Downtown office vacancies to rise (7-25-12)

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