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Retail Rates Push Ahead of Class-A Office Space

SAN ANTONIO-Everyone wants to be in San Antonio these days, says one of the city's leading commercial real estate professionals. A steady influx of retailers has skyrocketed per sf rates above class-A office asking prices.

By Connie Gore | Updated on May 03, 2001

SAN ANTONIO-San Antonio’s decades-long transition from a military community into a premier tourist destination has put retail space at higher per sf rates than class-A office space.

Keith Coelho, president and principal of Henry S. Miller Commercial’s San Antonio office, says this is the first time in 20 years that retail rent has surpassed office asking prices. On the average, retail space is commanding $22 per sf to $25 per sf for base rent, whereas most class-A space is running just a tad shy of those figures.

The success of San Antonio’s transition is being measured by the influx of retailers, who just a few years ago had “ignored San Antonio,” Coelho tells GlobeSt.com. “Now, everybody wants to be in San Antonio.”

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