Retail Occupancy Rates In San Antonio At 94%
Retail occupancy in San Antonio is hovering at a healthy rate of 94%, according to a recent study by The Weitzman Group and Cencor Realty Services. This may come as a surprise given Sports Authority’s recent withdrawal and resulting vacancies, but it seems fully leased construction is making up the difference.
The study focused on multi-tenant shopping centers in the San Antonio area with at least 25k SF. Inventory of such properties totals 44.9M SF. The market is on track to gain about 1.3M SF in newly constructed retail by the end of the year, a good sign after a slight slump last year, which saw 900k SF of new retail construction.