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 San Antonio releases 4Q 2013 office market update

The San Antonio office market ended the year on a positive note but it struggled to maintain momentum in the second half.  San Antonio-area office properties accumulated roughly 300,000 square feet of positive net absorption in the first six months of 2013 but the pace then slowed considerably.

Job growth, which was rather anaemic in 2013, focused primarily on industries less connected to the office market while industries such as Financial Activities and Professional and Business Services, which are more closely connected to the office market, actually saw over-the-year losses.

Despite the variability in the pace of recovery, the local office market continues to show improvement and the outlook for the San Antonio area remains positive, especially considering the projected rebound in job growth.  JPMorgan Chase and SWBC recently announced plans to hire 250 and 150 people, respectively.

Click to download REOC San Antonio’s 4Q 2013 Office Market Report.

Read related article: San Antonio’s office market shows modest improvement in 2013, REOC reports (San Antonio Business Journal, 2-26-14)

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