San Antonio Office Market Figures Q4 2022
January 17, 2023
- 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.