The San Antonio medical office building (MOB) market remained healthy, with another quarter of over 20,000 sq. ft. in positive net absorption.
Leasing activity picked up slightly, with the average lease size at approximately 1,900 sq. ft. in Q2 2021.
The majority of positive leasing activity occurred in the Northwest (Non-Medical Center) submarket, while the Far North Central/Stone Oak submarket experienced the highest amount of negative net absorption at the close of the quarter.
Construction is on the horizon with new developments kicking off Northeast of San Antonio. Of the seven MOB projects currently underway, five reside in the New Braunfels and Schertz areas, totaling over 64,000 sq. ft.