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Five Fast Facts: San Antonio Industrial Real Estate Q2 2023

Jeff Graves • 8/10/2023
Read our Five Fast Facts to learn about key trends that impact the San Antonio industrial market in the second quarter.
  1. SAN ANTONIO ECONOMY REMAINS RESILIENT 
    Employment increased by 46,000 year-over-year. 

  2. STRONG ABSORPTION THROUGH THE FIRST HALF OF 2023 
    Robust demand persisted in the second quarter as 1.2 million square feet of positive absorption reported.  

  3. VACANCY RATES INCREASING 
    The overall vacancy rate finished the quarter at 7.3%, which was up 110 basis points quarter-over-quarter (QOQ). 

  4. CONTINUED DEMAND ESCALATES RENTAL RATES 
    Overall asking rates increased to $8.15 per square foot (psf) for all product which was up just under 3.0% QOQ.  

  5. CONSTRUCTION CONTINUES 
    There is 6.7 msf of industrial product under construction with approximately 9% pre-leased. 
2Q23-5FastFacts_Industrial_San-Antonio
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