SAN ANTONIO–The industrial market in San Antonio is seeing a significant lack of space. In the second quarter, vacancy fell to 6.6%. The second quarter saw positive net absorption of 205,961 square feet, according to the second quarter market report by CBRE.
“San Antonio has always been tagged as the slow and steady market, but we are now seeing a high volume of users in the market with little new construction. I never expected to see vacancy in San Antonio as low as it currently is,” Rob Burlingame, CBRE senior associate, tells GlobeSt.com.
To meet demand, construction has begun to pick up across the city, with 468,199 square feet of new projects underway. The largest project to get underway is Alamo Ridge Business Center, the master-planned, all-spec project is being developed by EastGroup Properties and will eventually host 400,000 square feet of industrial space.
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