Source REOC San Antonio/Xceligent
Two new industrial projects were delivered to the San Antonio market in the second quarter: In the North Central sector, Thousand Oaks Business Park 4 (66,405 sf) came online anchored by Interceramic Tile (53,061 sf). In the South, a 60,000 square-foot build-to-suit for Custom Fab was delivered at South Park Business Park located at 7030 Old Pearsall Road. Combined with first quarter completions, more than 484,000 square feet of new industrial lease space has been added to the market this year.
The San Antonio industrial market closed the second quarter with a citywide vacancy rate of 8.4% which is up compared to 5.9% recorded a year ago. Vacancy is up because new supply has outpaced demand – but not by a lot. Over the past four quarters, the market experienced nearly 639,000 square feet of positive net absorption offset by more than 863,000 of new inventory.
Even though the average cost for all types of industrial space combined climbed ten cents over last quarter to reach $7.74, it is down nine cents compared to last year at this time.
Click to download REOC San Antonio’s complete 2Q 2015 Industrial Market Report
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