San Antonio Office Figures - Q2 2026

Over the last five years, San Antonio's Office market has seen alternating periods of expansion and contraction in occupied space as market-wide vacancy has edged slowly upward, from 15.2% in Q2 2021 to 17.6% in Q2 2026. Total net absorption fell to -44,000 sq. ft. in Q2 2026 as a handful of tenants downsized or consolidated their operations into single locations. Despite negative net absorption, vacancy increased only marginally by 10 basis points quarter-over-quarter, and steady leasing activity pushed market-wide availability down 40 bps to 19.3%.

Average asking rents declined 1.6% quarter-over-quarter but rose 3.2% year-over-year. Approximately 140 new leases recorded in Q2 2026 totaled 590,000 sq. ft., with Class B space notably outperforming Class A space by deal volume.