• Despite negative absorption, the San Antonio office market saw little movement in response to COVID-19. Much of the negative absorption stemmed from move outs that were planned in early 2020.
  • At the close of Q2 2020, around 412,000 sq. ft. of sublease space was available in the market, which is up only around 80,000 sq. ft. from this time last year.
  • Market-wide asking rates dipped slightly quarter-over-quarter by $0.72 per sq. ft., while market-wide Class A rates grew $0.77 per sq. ft. from Q1 2020.  
  • The construction pipeline tightened with two buildings delivering this quarter, adding 169,000 sq. ft. of Class A office space to the market.