San Antonio Commercial Real Estate
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San Antonio Commercial and Office Space Overview
The second most populated city in Texas, San Antonio boasts a rich history, culture, and spirit of tradition that can only come from the Lone Star State. Originally founded as a Spanish mission and outpost in 1718, San Antonio officially became Texas’ first established city only 13 years later and a central point of conflict in the Mexican-American war only a century later.
Cited as an evergreen source of growth and rebirth in the state, San Antonio has been a model of economic consistency in Texas since its inception. Since 1990, the city has been an example of expansion and prosperity despite various recessions. From 2000-2010, it was the fast-growing large city in the United States and has enjoyed the largest population boom of any American city over the last few years.
Thanks to a large military presence and a booming oil and gas industry, San Antonio’s economic outlook is strong. There are over 850 available commercial real estate listings in the city, with a median square footage at a comfortable 640 square feet and $28 per square foot/year.
Economy of San Antonio
Home to six Fortune 500 companies and a major military presence, San Antonio’s economic stability has been a model for other cities its size. The fourth-largest GDP in the state of Texas, San Antonio’s other economic pillars include healthcare, government service, tourism, and financial services as well as customer call centers and manufacturing.
With a median household income of $48,000, San Antonio residents enjoy a healthy job market well outside the reaches of Dallas and Houston. In addition to the presence of several military installations, the city boasts the presence of companies like Valero Energy, NuStar Energy, the North American Development Bank, Toyota, Argo Group, Microsoft, and Boeing.
Trends of San Antonio
Real estate costs have risen steadily in San Antonio over the last several years, with a median list price for residential properties rising nearly 25% from 2015-2016. These strong numbers are mirrored in the professional realm, where a below-average unemployment rate and above-average job growth rate show an encouraging local economy.
The city also has one of the best-defined future planning effort in the nation, with the city outlining a 25-year framework that will guide future growth and development. Apart from the $450 million redevelopment and expansion of Alamo Plaza, the city is planning to bring more than 15,000 students to the downtown corridor with a focus on tech and cybersecurity in the National Security Collaboration Center and School of Data Science.
San Antonio has 4,240 commercial real estate spaces for lease, representing 29,058,615 sqft space.
1603 buildings are available for sale.
In the past 30 days, San Antonio has had 207 spaces leased and 9 new spaces come on market.