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Velvet Taco

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Dallas-based Velvet Taco recently opened its 5515 N. Loop 1604 W. – Rim Crossing location. San Antonio residents will have a Velvet Taco at The Rim and at its second location near the Pearl on Grayson Street.


Market Highlights

OCCUPANCY RATE AT 94.1% Occupancy is at 94.1%, down 80 basis points from this time last year. Of the 933,000 sq. ft. currently under construction, the availability rate stands at 35.9%. Year-to-date through February, the San Antonio retail market has recorded 363,000 sq. ft. of leasing activity—which is comprised of both new leases and renewals—down approximately 52% from one year ago. In addition, the net amount of square feet absorbed (move-ins minus move-outs) stands at positive 67,000 sq. ft., with new supply delivering 11 properties totaling 208,000 sq. ft. to the market this year—of which 55% is occupied. The average asking rate of renting retail space in San Antonio is at $16.22 per sq. ft. on a triple net basis, down slightly compared to this time in 2020 at $16.25 per sq. ft. Velvet Taco

VELVET TACO AT THE RIM Dallas-based Velvet Taco recently opened its 5515 N. Loop 1604 W. – Rim Crossing location. San Antonio residents will have a Velvet Taco at The Rim and at its second location near the Pearl on Grayson Street. Velvet Taco’s Rim Crossing site marks its 20th location and features 2,500 sq. ft. of dining room space. The Grayson Street location is in the previous home of Taco Land, which reopened as bar Viva Tacoland years later. Viva Tacoland closed in May 2019.

RETAIL AND ROOFTOPS According to the San Antonio Board of REALTORS®, San Antonio and its surrounding communities saw a 1% increase in February 2021’s home sales compared to February 2020. In the face of the week-long snowstorm, 2,413 homes were still sold in February 2021 compared to February 2020’s 2,395 home sales. In the greater San Antonio area, there were 2,626 new listings, while Bexar County specifically had 1,862 new listings. There were 26,501 total new listings in the state of Texas in February. Velvet Taco

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


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