As tourism continues its strong rebound in San Antonio and the city’s population growth remains on an upward trajectory, all of this foot traffic is showing significant returns for the San Antonio retail market.
Houston-based NAI Partners reported Thursday that average asking rents for commercial properties in the area hit an all-time high of $17.32 per square foot in May 2022, showing strong market demand in the city despite the national inflation at its highest level in 40 years and fears of an impending recession.
This is up 5% from the 2021 high of $16.50.
According to the report, commercial space rental activity increased by 26% compared to May 2021. Demand in areas adjacent to the city limits also remains high, as tenants flee higher rates within the limits. from the city.
Since May 2011, the largest retail transaction was 121,581 square feet of leased space at the Schertz Corporate Center in Schertz.
Companies leasing the second and third largest retail spaces in Greater San Antonio included Plano-based entertainment company Pinstack and LA Fitness.
Editor’s Note: This story was published through a Partnership between KSAT and the San Antonio Business Journal.
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