The San Antonio office market remained relatively quiet in Q2 2021 with 15,876 sq. ft. of market-wide negative net absorption at close of the quarter.
As employees adjust to a post-pandemic lifestyle, leasing decisions remain on hold for many companies until the workplace returns to a sense of normalcy.
168,587 sq. ft. of Class A office space delivered in Q2 2021 and over 1.0 million sq. ft. remains underway.
Class A rents in the CBD continued to show strong growth with NNN rents standing at $36.69 per sq. ft. at the end of Q2 2021. The North Central/Midtown corridor along Broadway is seeing substantial rent growth with new construction rents ranging from $28.00 - $38.00 NNN.