• Activity across the San Antonio medical office building (MOB) market remained robust, with vacancy dwindling 50 basis points (bps) from 15.6% in Q4 2020 to 15.1% in Q1 2021.

  • Class B triple net (NNN) asking rates grew slightly from $20.04 per sq. ft. to $20.23 per sq. ft. quarter-over-quarter.

  • New construction slowed down with only three projects currently underway in Q1 2021.

  • Several developments are expected to break ground in 2021 with 22 MOB projects totaling over 533,000 sq. ft. currently in planning stages.