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San Antonio Industrial Commercial Real Estate Snapshot and Economic Information and Data

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Market Highlights

Industrial market indicators remain strong in 2018. Nearing the end of the first quarter, 203,663 sq. ft. of Warehouse/Flex space has been delivered, year-to-date net absorption is at 55,666 sq. ft., and vacancy is down slightly at 6.0% compared to this time last month at 6.1%. The current amount of space under construction is 620,592 sq. ft., with close to 80% of that space available for lease. In a tight market, leasing activity is at 555,438 sq. ft. year-to-date.

Investment sales up 60% year-over-year. Sales of major industrial properties grew 59.7% on a year-over-year basis through February 2018, totaling $17.1 million, based on Real Capital Analytics data. The buyer composition was made up of 100% private investors. The most recent significant year-to-date transaction in the local market took place in February: the acquisition by Steiner LLC of a 107,618-sq.-ft. industrial property, at 3323 E. Commerce St., in northeast San Antonio, from Nshe TX Cascarudo LLC.

Beginning of 1.3 million sq. ft. business park. Building 1, the 179,655-sq.-ft. speculative warehouse, located in Gateway 10 Business Park, is on schedule for completion in June 2018. The project is located on I-10 E. in Northeast San Antonio near Foster Road. The 100+ acre master planned development will ultimately offer retail, commercial and industrial land sites.

Economy expanding at a steady pace. The San Antonio unemployment rate increased slightly to 3.4% in January. The Texas and U.S. rates held steady at 4.0% and 4.1%, respectively. The jobless rate was revised down significantly last year, with a 17-year low of 3.1% last October. Local area jobs increased over the three months through January, with strong growth in goods-producing industries. In addition, mining added jobs at a fast pace and construction hiring picked up due to the demand for specialty trade contractors.

San Antonio Industrial Commercial Real Estate Snapshot and Economic Information and Data

San Antonio Industrial Commercial Real Estate Snapshot and Economic Information and Data

San Antonio Industrial Commercial Real Estate Snapshot and Economic Information and Data


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

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