As an influx of retailers filed for Chapter 11 over the last few months, more big box spaces have become available, causing an uptick in vacancy and the third consecutive quarter of negative absorption.
Despite a slowdown in new activity, average asking rates have remained flat quarter-over-quarter with no change.
8 buildings totaling over 134,000 sq. ft. delivered in Q3 2020, with a remaining 847,424 sq. ft. of new product underway.
The unemployment rate in the San Antonio-New Braunfels decreased significantly, from 13.3% in April 2020 to 8.0% in July 2020, showing positive signs of a bounce back in the near future.