Search
 

San Antonio Retail Rates Stabilize After Growth Surge

SAN ANTONIO-Retail rental rates have finally leveled off after a long escalation period. The playing field's been tempered by new construction, which for awhile could barely keep pace with demand. But there's no standstill; more product is coming.

By Kimberly Reeves | Updated on March 21, 2001

SAN ANTONIO-Retail rental rates in San Antonio are beginning to level off for the first time in a number of quarters, according to a survey by the Weitzman Group’s San Antonio office. The 30.9 million sf of retail space here has an occupancy rate of 85.2%, with the highest concentration of vacancies in the northeast corridor. Rental rates currently range from $9.51 per sf in the southwest sector to $13.88 per sf in the north central corridor. Rental rates, Weitzman’s director of research Cale Hahn tells GlobeSt.com, are moderating.

“We had a pretty significant upward climb for awhile that was a reflection of the demand in the market. We couldn’t build space fast enough. We were talking about projects that were 90% pre-leased,” Hahn says. “Now that those projects are developed, however, it’s had an obvious effect on the rental rates in the market.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.