San Antonio Industrial Market Figures Q4 2022
January 17, 2023
- Demand drove market fundamentals in Q4 2022 with over 2.0 million sq. ft. of positive net absorption.
- Strong leasing activity over the last year caused vacancy to dwindle by 40 basis points (bps) quarter-over-quarter to 3.6%.
- Developers continued to respond to the ever-growing demand for bulk user space, adding 13 projects totaling nearly 1.8 million sq. ft. to the construction pipeline this quarter.
- Four projects, totaling over 2.0 million sq. ft. delivered in Q4 2022.
- The market-wide average asking rental rate fell $0.41 quarter-over-quarter, which can be attributed to space removals from leases in newly constructed buildings that quote higher rents.