The San Antonio industrial market showed no signs of slowing down, with over 1.1 million sq. ft. of positive net absorption in Q2 2021.
Heavy leasing activity caused vacancy to decrease 130 basis points (bps) quarter-over-quarter, from 13.8% in Q1 2021 to 12.5% in Q2 2021.
Construction completions slowed down, with only one building totaling 73,161 sq. ft. delivering in Q2 2021. On the other hand, construction starts ramped up with over 423,000 sq. ft. of speculative space added to the pipeline at the close of the quarter.
18 projects remain underway, with 70.7% already pre-leased.