San Antonio Retail Figures Q1 2023
May 9, 2023 5 Minute Read
- Market-wide occupancy grew to 95.8% in Q1 2023, up 40 basis points (bps) from the previous quarter.
- Healthy leasing activity continued to tighten vacancies, with seven submarkets registering occupancy increases across the San Antonio-New Braunfels metro area this quarter.
- Unemployment edged slightly upward to 3.8% as of February, remaining below the statewide unemployment rate of 4.2%.
- Retail development remained strongest in the suburbs where demand is highest, particularly near new housing projects.
- Eight projects totaling 97,987 sq. ft. delivered in Q1 2023.