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San Antonio Retail Will Stay Strong Through Year's End

SAN ANTONIO-Retail fundamentals are in place for a hardy year, with sales above the national average. The market absorbed 408,400 sf by the Q4 close to drive down vacancy just a bit. Retailers, like their customers, are finding good deals from building owners.

By Tim Green | Updated on January 10, 2002

SAN ANTONIO-The city’s retail real estate market came through the past six months–marked by the Sept. 11 attacks and their aftermath and a slowing economy–in good shape. But retailers, as price conscious as their customers, are looking for good deals and building owners seem ready to oblige.

Overall rental rates dropped 26 cents per sf to $11.05 per sf, which was where they were at the beginning of the year. The overall vacancy rate at yearend was 14.19% from 15.01% at midyear. And, in the past six months, the market absorbed 408,400 sf. That’s the report from Dallas-based Weitzman Group’s retail building report for the end of 2001.

The absorption number was “extremely strong,” Cale Hahn, the research direct of Weitzman’s San Antonio office, tells GlobeSt.com. Much of the total came from the 205,000-sf, fully leased expansion of the Northwoods Shopping Center, at US Highway 281 and Loop 1604 in the north central submarket. The northwest submarket absorbed 318,000 sf, the biggest number in San Antonio. Even the city’s regional malls posted 51,610 sf in absorbed space.

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