San Antonio Office Market Figures Q4 2022

January 17, 2023

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  • Vacancy decreased 40 basis points (bps) quarter-over-quarter to 17.1%.
  • Sublease activity calmed down in Q4 2022 with a slight increase in available sublease space by 1,291 sq. ft. quarter-over-quarter.
  • Two projects broke ground in Q4 2022, slated for 200,000 sq. ft. in the South Submarket.
  • The market wide average gross asking rent increased by $0.47 quarter-over-quarter, which can be attributed to space availabilities from Class A office buildings that delivered in the second half of 2022.
  • Roughly 180,000 jobs have been added since April 2020, surpassing the numbers of jobs lost due to implications from the pandemic.