The San Antonio retail market experienced another quarter of negative absorption, closing Q4 2020 at (20,114) sq. ft. This was mainly due to big-box closures that were announced this year.
The unemployment rate in the San Antonio-New Braunfels metro fell from 7.7% in September 2020 to 6.4% in October 2020, the lowest the unemployment rate has been since its peak in April.
Occupancy dipped slightly by only 10 basis points from 93.9% in Q3 2020 to 93.8% in Q4 2020.
Three buildings delivered this quarter, with the lion’s share of new developments in the Northwest submarket.
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