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Worst May Be Over for San Antonio Office Market

SAN ANTONIO-Mixed signals at the 2001 close indicate San Antonio already is on the road to recovery for its office market. The year ended with negative absorption, but it slowed to 21,000 sf in Q4, a marked decline from prior periods.

By Tim Green | Updated on January 27, 2002

SAN ANTONIO-The San Antonio office market ended 2001 with a 14.1% vacancy rate, up from 11.9% at the 2000 close. But, negative absorption during the year and late-year trends have sent mixed signals, according to a market report from San Antonio’s REOC Partners Ltd.

While there was an increase in the vacancy rate, Todd Gold, president of REOC Partners, says “the fact that the office market held fast in the fourth quarter indicates the worst may be over.”

Negative absorption was 276,000 sf for the year, but it slowed to 21,000 sf in the fourth quarter. The CBD posted negative absorption of 336,753 sf in 2001, with that area’s class B buildings accounting for 300,416 sf of the total.

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