San Antonio’s retail market is still experiencing record high occupancy, with tenants turning to vacant storefronts as demand outpaces new construction.
As of midyear, the market reported an overall occupancy rate of 95.5%, according to the latest report from Dallas-based real estate firm Weitzman. The local occupancy rate has been 90% or higher for 15 straight years, largely driven by stable tenant retention and demand for high-visibility spaces.
“There’s a good demand for the retail strip neighborhood spaces,” said Will McDonough, vice president of Weitzman’s San Antonio office. “A lot of the new developments like that are pretty well-leased, especially if they’re anchored by an H-E-B.”…