Office Rental Market
- $26.39 2019 Avg. Asking Rent
- 12.47 % 2019 Avg. Vacancy Rate
- 698,597 2019 Office Completions (Sqft)
- 2,166,981 2020 Estimated Pipeline (Sqft)
Average Office Asking Rents by Class
2019 Average Office Rent per Square Foot
- San Antonio Class A Office Buildings$29.81
- San Antonio Class B Office Buildings$22.54
- San Antonio Class C Office Buildings$17.98
- TX Class A Office Buildings$34.48
- TX Class B Office Buildings$23.32
- TX Class C Office Buildings$16.03
San Antonio, TX Office Asking Rents by Class
Office asking rents vary across the San Antonio office market depending on several factors, one of which is property class. While rents for Class A office buildings in San Antonio averaged $29.81 per square foot in 2019, Class B office properties garnered average rental rates of $22.54 per square foot. Rental rates for Class C office property in San Antonio averaged $17.98 per square foot. On a statewide level, Class B office space rents averaged $23.32 per square foot, while rents for Class A office space across Texas averaged $34.48 per square foot. On average, Class C office properties in Texas commanded rents of $16.03 per square foot.
2019 OFFICE VACANCY RATES
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| San Antonio CBD | $31.89 | 11.28 % |
| Northwest San Antonio | $29.13 | 11.95 % |
| Far West San Antonio | $29.05 | 8.31 % |
| Outlying Bexar County | $27.74 | 6.48 % |
| I-10 Corridor | $26.68 | 10.85 % |
| East San Antonio | $24.32 | 13.57 % |
| Airport | $23.58 | 15.63 % |
| Northeast San Antonio | $22.83 | 7.30 % |
| West San Antonio | $20.73 | 16.61 % |
- The lowest office vacancy rate in 2019 in San Antonio was 6.48 % in the Outlying Bexar County submarket, where asking rents averaged $27.74.
- The highest office vacancy rate in 2019 in San Antonio was 16.61 % in the West San Antonio submarket, where asking rents averaged $20.73.
OFFICE CONSTRUCTION IN San Antonio, TX
- San Antonio, TX Total Sqft completed in 2019 698,597
- San Antonio, TX Total Sqft under construction in 2020 2,166,981
| Building name | Address | Total Sqft | Year built |
|---|---|---|---|
| USAA Corporate Headquarters | 9800 Fredericksburg Road, 78288 | 5,127,811 | 1976 |
| Rackspace Global Headquarters | 1 Fanatical Place, 78218 | 1,200,000 | 2007 |
| Wells Fargo Wiseman Campus | 4101 Wiseman Blvd, 78251 | 843,668 | 1993 |
| 3500 Wiseman Blvd | 3500 Wiseman Blvd, 78251 | 685,000 | 1998 |
| Ridgewood Park - 19100 Ridgewood Pkwy | 19100 Ridgewood Pkwy, 78259 | 618,017 | 2008 |
| Bank of America Plaza | 300 Convent Street, 78205 | 542,835 | 1983 |
| 500 McCullough Avenue | 500 McCullough Avenue, 78215 | 494,000 | 2020 |
| Weston Centre | 112 East Pecan Street, 78205 | 490,871 | 1989 |
| 3838 Rogers Road | 3838 Rogers Road, 78251 | 490,196 | 2008 |
| Frost Tower | 111 West Houston Street, 78205 | 462,054 | 2019 |
| Office building | Address | Sqft | Completed |
|---|---|---|---|
| Oxbow - 1703 Broadway Street | 1703 Broadway Street, 78215 | 213,273 | 2021 |
| Project Tech 2 | 3130 General Hudnell Drive, 78226 | 174,196 | 2021 |
| The Light | 420 Broadway Street, 78205 | 148,347 | 2021 |
| SAISD Administrative Building | 727 North Flores Street, 78212 | 140,000 | 2021 |
| RidgeWood Plaza II | 19138 North US Hwy 281, 78258 | 121,940 | 2021 |
| Concord Park III | 927 East Sonterra Blvd, 78258 | 101,000 | 2021 |
| Farinon Business Park - Building III | 5818 Farinon Drive, 78249 | 84,890 | 2021 |
| Walker Ranch Business Park - Building 2 | 14410 Wurzbach Pkwy, 78216 | 77,296 | 2021 |
| 7600 Broadway | 7600 Broadway Street, 78209 | 52,835 | 2021 |
| Endeavors Veteran Wellness Center | 6333 De Zavala Road, 78249 | 30,549 | 2021 |
Office Spaces for Rent in Texas
SAN ANTONIO OFFICE SALES TRENDS
- $268.652019 Avg. Price per Sqft
- 92.82 %Y-o-Y Avg. PpSF Change
- $370.4M2019 Office Sales Volume
- 92019 Number of Transactions
In 2019, office sales in San Antonio averaged $268.65 per square foot. This marked a 92.82 % increase in office price per square foot, compared to the previous year. A total of 9 office sales closed on the San Antonio office market in 2019, amounting to a total sales volume of $370.4M.
Average Office Sale Price per Sqft
San Antonio, TX Sales Trends
- San Antonio Price per Sqft$268.65
- Texas Price per Sqft$253.24
Office Sales - Trend and Volume
- San Antonio, TX Total Office Sales Volume in 2019 $370.4M
- San Antonio, TX Total Number of Office Sales Closed in 2019 9
Largest San Antonio Office Sales in 2019
| Property name | Address | Date | Price |
|---|---|---|---|
| Ridgewood Park - 19100 Ridgewood Pkwy | 19100 Ridgewood Pkwy | 8/20/2019 | $198,000,000 |
| Pasteur Plaza | 7909 Fredericksburg Road | 7/25/2019 | $30,318,000 |
| Chase Center Oak Park | 1020 NE Loop 410 | 3/13/2019 | $28,979,000 |
| Sonterra Medical Park | 155 East Sonterra Blvd | 10/10/2019 | $25,591,000 |
| 1800 Plaza | 1800 NE Loop 410 | 8/16/2019 | $24,757,000 |
See trends for nearby markets
The San Antonio office market contains an inventory of 55,444,080 square feet of office space, in 820 buildings that are equal to or larger than 25,000 square feet.
This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.