San Antonio Industrial Figures - Q1 2026

Industrial market activity was relatively flat In Q1 2026, recording slightly lower vacancy and availability but weaker net absorption. Compared to Q4 2025, vacancy and availability were 20 and 30 basis points lower, while net absorption was down 32.7%. Average asking rents increased slightly to $8.69, a 0.9% increase quarter-over-quarter. Year‑over‑year, net absorption increased 74.1%, vacancy declined 60 basis points, and average asking rents were 3.0% higher. 

Leasing activity, which has historically been slower in Q1 relative to later quarters, dropped 44.8% quarter over quarter but was approximately on par with activity in Q1 2025.

219,000 sq. ft. of new construction delivered in Q1 25, and 2.7 million sq. ft. remain under construction. 2.01 million sq. ft. of the construction pipeline is pre-committed to a combination of owner-users and build-to-suit leases, notably including JCB and Toyota’s manufacturing facilities underway in the South submarket, and Ranch Hand equipment’s build-to-suit facility at TriPoint Logistics in Seguin.