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San Antonio Retail Commercial Real Estate market information and economic data - Bed Bath and Beyond Shopping Central Park Mall

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San Antonio has maintained an occupancy rate in the retail sector at or above 94.0% for five years, registering at 94.8% midway through Q2 2019. Tenancy of the 600,000 sq. ft. delivered to the market year-to-date stands at 83.6%, and of the 2.0 million sq. ft. currently under construction, 51.8% of that space is available for lease. Year-to-date net absorption is reflecting less move-ins than last year at this time.


Market Highlights

Retail market strong. San Antonio has maintained an occupancy rate in the retail sector at or above 94.0% for five years, registering at 94.8% midway through Q2 2019. Tenancy of the 600,000 sq. ft. delivered to the market year-to-date stands at 83.6%, and of the 2.0 million sq. ft. currently under construction, 51.8% of that space is available for lease. Year-to-date net absorption is reflecting less move-ins than last year at this time, although there has been 1 million sq. ft. of leasing activity. The ever-increasing average asking rate of renting retail space is $15.93 per sq. ft. on a triple net basis, up $1.12 from this time last year at $14.81 per sq. ft.

Steady leasing activity. Bed Bath & Beyond has signed a 38,000-sq. ft. lease at 201 Central Park Mall, taking the space that formerly was home to Sears, which closed in July 2018. Other new tenants for the 199,000-sq.-ft. retail center include Buy Buy Baby to occupy 21,000 sq. ft. and Tru Fit taking 62,000 sq. ft. In addition, Conn’s HomePlus will replace the former Toys ‘R’ Us and Babies ‘R’ Us store at 8270 Agora Pkwy. in The Forum at Olympia Parkway in Selma. The 48,000-sq.-ft. renovation will begin in May and finish at the end of the summer with a reported price tag of $750,000.

San Antonio job growth steady. The unemployment rate fell for the third consecutive month, to 2.9% in April. This is significantly lower than the state’s rate at 3.7%, and the nations at 3.6%. In the three months ending in April, the metro area added jobs at an annualized rate of 1.7%. Growth in the period through April expanded in professional and business services (2,300 jobs), financial activities (1,700 jobs), and the construction sector (1,600 jobs). Areas of contraction included health and education services (1,800 jobs) and leisure and hospitality (1,400 jobs).

San Antonio Retail Commercial Real Estate market information and economic data - Market Activity table

San Antonio Retail Commercial Real Estate market information and economic data - Vacancy and Rent graph

San Antonio Retail Commercial Real Estate market information and economic data - Supply and Demand graph


Leta Wauson
Director of Research
[email protected]
tel 713 275 9618

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