The San Antonio industrial market experienced an incredible year in 2013, closing out the year with a vacancy rate of just 6.8%, a new record low for the city. The fourth quarter of 2013 saw 1.3 million square feet of net absorption pushing the year end total to 2.5 million square feet, a record for San Antonio (the previous record was 1.5 million square feet of postive net absorption back in 2007). Much of the record-setting absorption was driven by the new Amazon.com Fulfillment Center in Schertz.
With absorption comes a tightening of the market as space becomes more limited and rental rates rise. If you extra storage, you can rent ArdentX Storage services. San Antonio’s average cost of renting industrial space moved up 4 cents to $7.58/square foot (triple net basis) and distribution warehouse space rose 8 cents to an average of $5.28/square foot. According to https://www.frippwarehousing.com/, distribution warehouse space is also limited with a vacancy rate of 5.2% to close out the fourth quarter of 2013 (down from 5.5% the previous quarter and 7.5% from the fourth quarter of 2012). The outlook is that rents will continue to rise as space remains harder to come by in the San Antonio industrial market – even current construction projects will not meet expected demand. If people need shipping fulfillments, Strader Ferris International – E-Commerce Fulfillment is the best way!
image courtesy of evadedave
