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San Antonio Industrial Snapshot Commercial Real Estate Economic Data and Information

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Market Highlights

Industrial market indicators remain strong closing out 2017. During 2017, 1.46 million sq. ft. has been delivered to the market, with 68% of that new supply available for lease. Overall net absorption is at 920,637 sq. ft., with vacancy at 6.0% year-to-date compared to Q3 2017 at 5.6%. The current amount of space under construction is 869,207 sq. ft., with 35% of that space pre-leased. In a tight market, leasing activity is at 4.0 million sq. ft. year-to-date.

Manufacturing is a big deal in San Antonio. Based on a study by Trinity University, San Antonio’s manufacturing sector had an overall economic impact of $40.5 billion in 2016. In addition, with 1,544 companies counted as manufacturers in San Antonio, the sector employed 51,904 people with an average salary of $57,507, and close to $3 billion in wages and salaries last year.

Investment sales up 56% year-over-year. Sales of major industrial properties grew 58.6% on a year-over-year basis nearing the end of the fourth quarter, totaling $423 million, based on Real Capital Analytics data. The buyer composition is made up of 37% cross-border, 36% private, 12% REIT/listed, 8% institutional and 7% user/other.

Area unemployment rate declined to a 16-year low. The San Antonio economy grew at a steady pace in October, as jobs surged and the area unemployment rate plunged from 4.0% in September to 3.6% in October, the lowest level since December 2000. San Antonio employment increased at a 6.0% annualized rate over the three months through October with construction job growth booming, due to an increase in specialty trade contractors and new building construction.

San Antonio Industrial Snapshot Commercial Real Estate Economic Data and Information

 

San Antonio Industrial Snapshot Commercial Real Estate Economic Data and Information

 

San Antonio Industrial Snapshot Commercial Real Estate Economic Data and Information


Leta Wauson
Director of Research
leta.wauson@naipartners.com
tel 713 275 9618

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