2020 Office Space Rent & Sales
- $26.50 2020 Avg. Asking Rent
- 0.41% Y-o-Y Avg. Asking Rent Change
- 14.34% 2020 Office Vacancy Rate
- $61.3M2020 Total Office Sales
- $137.96Avg. Sale Price/SF
San Antonio office price per square foot in 2020 was $26.50 on average. This marked a +0.41% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.34% across all asset classes combined. The 4 transactions that closed here throughout 2020 amounted to a total sale volume of $61.3M. San Antonio office space commanded an average sale price per square foot of $137.96.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- San Antonio Class A Office Space$30.70
- San Antonio Class B Office Space$22.67
- San Antonio Class C Office Space$19.43
- Texas Class A Office Space$35.41
- Texas Class B Office Space$23.36
- Texas Class C Office Space$16.89
San Antonio, TX Office Asking Rents by Class
Average office rent in San Antonio rested at $26.50 per square foot in 2020. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in San Antonio averaged $30.70 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.67 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $19.43 per square foot, on average. Comparably, statewide Texas average office rents by class in 2020 were: $35.41 per square foot for class A office space; $23.36 per square foot for class B office space; $16.89 per square foot for class C office space.
2020 Office Vacancy Rates in San Antonio
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| San Antonio CBD | $33.70 | 16.24% |
| Northwest San Antonio | $28.56 | 11.49% |
| Far West San Antonio | $27.71 | 9.39% |
| I-10 Corridor | $26.82 | 14.06% |
| Outlying Bexar County | $26.63 | 11.02% |
| East San Antonio | $25.11 | 14.32% |
| Airport | $25.01 | 20.92% |
| Northeast San Antonio | $22.80 | 9.29% |
| West San Antonio | $21.22 | 20.90% |
Office Spaces for Rent in Texas
San Antonio Office Sale Price per SF
- $137.962020 Avg. Price per SF
- -44.59%Y-o-Y Avg. PpSF Change
- $61.3M2020 Office Sales Volume
- 42020 Number of Transactions
San Antonio, TX Sale Price per SF Trend
- San Antonio Avg. Sale Price per SF in 2020$137.96
- Texas Avg. Sale Price per SF in 2020$216.82
2020 Office Sales Volume
- San Antonio, TX Total Office Sales Volume in 2020 $61.3M
- San Antonio, TX Total Number of Office Sales Closed in 2020 4
Largest San Antonio Office Sales in 2020
| Property name | Address | Date | Price |
|---|---|---|---|
| Fountainhead Business Park I | 4511 Horizon Hill Blvd | 10/20/2020 | $19,500,230 |
| Fountainhead Business Park II | 4545 Horizon Hill Blvd | 10/20/2020 | $19,499,770 |
| Sentry Gateway 100 | 1101 Sentry Gateway | 1/14/2020 | $11,250,000 |
| Dominion Crossing | 21727 West Interstate 10 West | 5/12/2020 | $9,197,500 |
| Acorn Hill Plaza | 10807 Perrin Beitel Road | 10/9/2020 | $1,829,000 |
2020 Office Construction in San Antonio, TX
- San Antonio, TX Total SF completed in 2020 925,475
- San Antonio, TX Total SF under construction in 2021 1,182,552
During 2020, 925,475 square feet of new office space were delivered across the market. At the close of 2020, the San Antonio office inventory included 8 buildings equal to or larger than 25,000 square feet, which comprised 925,475 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 1,182,552 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| North Rim Corporate Campus | NEC Frontage Road & Old Camp Bullis Road, 78257 | 549,570 | 2022 |
| Jefferson Bank Headquarters | 1900 Broadway Street, 78215 | 486,210 | 2022 |
| Project Tech 2 | 3130 General Hudnell Drive, 78226 | 174,196 | 2022 |
| The MAC at Morgan’s Wonderland | 5210 Thousand Oaks Drive, 78217 | 165,171 | 2022 |
| Concord Park III | 927 East Sonterra Blvd, 78258 | 101,000 | 2022 |
| Oak Hills Women's Pavilion | 7707 Ewing Halsell Drive, 78229 | 98,500 | 2022 |
| The Offices at Rogers Creek | 5436 Rogers Road, 78251 | 70,000 | 2022 |
| SwRI Building 299 | 6220 Culebra Road, 78238 | 68,761 | 2022 |
| 7600 Broadway | 7600 Broadway Street, 78209 | 52,835 | 2022 |
| Oxbow - 1703 Broadway Street | 1703 Broadway Street, 78215 | 213,273 | 2021 |
Worth noting among recent office completions on the San Antonio market is North Rim Corporate Campus, which is currently the largest new office development in the city, at 549,570 square feet.
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all San Antonio commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.