San Antonio Office Vacancy Declines

In San Antonio, San Antonio’s office vacancy rate was 17.4 percent at the end of the third quarter, down 20 basis points from the second quarter, Grubb & Ellis reported. The market experienced 46,746 sq ft of negative net absorption during the third quarter, lowering the year-to-date total of positive absorption to 112,636 sq ft. Class A asking rental rates averaged $25.10 per sq ft in the third quarter, a $1.18 decrease from the second quarter. Chevron Corporation’s recent purchase and occupancy of a 150,000-sf building at 5200 Rogers Road reduced vacancy, Grubb & Ellis reported.