May 16, 2019
SAN ANTONIO – At the end of first quarter 2019, the vacancy rate for Class A and Class B office/medical properties rose 90 basis points quarter over quarter to 16.8 percent.
Net absorption slowed to -94,000 sf, with Class A space representing -46,000 sf and Class B space totaling -47,000 sf.
Worth & Associates and TSAOG have broken ground on two local office and medical properties. RidgeWood Plaza II, a 123,000-sf, four-story Class A office building, and the 97,000-sf, three-story Ridgewood Orthopedic Center will open by summer 2020.
Moreover, Harrison Street Real Estate Capital LLC has bought the Children’s Hospital of San Antonio Health Pavilion at 1434 E. Sonterra Blvd. The brand-new 57,250-sf medical office building was 100 percent leased at the time of sale by Seavest Healthcare Properties LLC.
See the full report at NAI Partners