Acacia is a 35,886-sf suburban office building that is 45% occupied, according to information on the Web site of Transwestern Commercial Services, which handles the leasing for owner 7551 Ltd. Transwestern's Elize Pruske negotiated the lease for the building owner. The building, erected in 1982, houses professional offices such as those of law firms and dentists.
The northwest submarket had a vacancy rate of 23.4% at the end of 2002, according to figures from Grubb & Ellis Co.'s San Antonio research team. Negative absorption in the fourth quarter was 69,571 sf and 206,391 sf for the year. Both were the highest negative absorption numbers in the city. Rents in the submarket average $16.50 per sf.
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