Download the PDF
Asking rents continue to increase. San Antonio has maintained an occupancy rate in the retail sector at or above 95.0% for the past three years, registering at 95.1% midway through Q1 2019. Tenancy of the 376,000 sq. ft. delivered to the market year-to-date stands at 93.6%, and of the 1.7 million sq. ft. currently under construction, 51.6% of that space is available for lease. Year-to-date net absorption is reflecting more move-outs than move-ins, and there has been 163,000 sq. ft. of leasing activity. The ever-increasing average asking rate of renting retail space is $16.24 per sq. ft. on a triple net basis, up 13.0% from this time last year at $14.37 per sq. ft.
EVO in Schertz. San Marcos-based EVO Entertainment Group recently announced plans to open the 73,000-sq.-ft. entertainment megaplex with 10 dine-in movie theaters and 16 lanes of bowling in the coming weeks. The complex will be located in the new Wiederstein Ranch at the northeast corner of IH-35 and Wiederstein Road. EVO first revealed plans of the cmplex in May 2018, soon after Santikos Entertainment released images of its 87,000-sq.-ft. entertainment center in the nearby suburb of Cibolo.
Latest housing market activity. According to the San Antonio Board of Realtors, following a year represented by continual increases in home sales figures, January sustained that momentum into 2019 with a 2.0% increase year-over-year in total home sales. The average price of a home in January also saw a 2.0% increase from last year to $249,477. Local experts say that even with the increase in home prices, San Antonio is more affordable than other metropolitian areas around Texas. This allows homebuyers to live in a major metro area and still obtain homeownership.
Director of Research
tel 713 275 9618