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San Antonio Office Market Hits Bottom

SAN ANTONIO-Rising demand and slowing construction and sublease space have stabilized the market, where the overall occupancy rate has dipped to 84.9%. Still, rent remains relatively flat.

By Jim McCartney | Updated on September 03, 2002

SAN ANTONIO-Despite tenants exiting or downsizing their space in the suburbs this year, San Antonio’s commercial office market continues to be “relatively stable” with occupancy levels in the mid-80% range, according to a new market report by Dallas-based Holliday Fenoglio Fowler LP.

The overall occupancy rate in the second quarter for San Antonio’s office market was 84.9%, down 2.7% from the same time a year ago. The 22.1-million-sf market had a negative absorption of 205,105 sf during the first half of this year.

“The market seems to have bottomed out and the amount of space for sublease is stabilizing,” says Ed Frieze, research director. Still, there is 800,000 sf available for sublease on the market, about 3.6% of the total inventory, he says.

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