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San Antonio

Market Insight

San Antonio Q3 Market Stats

$27.46
Avg. Gross Rent
15.1%
Vacany Rate
250k
Deliveries
1.4M
Under Construction

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Startup Culture and San Antonio Go Hand in Hand Around the Rand

The historic Rand Building was built in 1913 for the department store Wolff & Marx. It is situated at the intersection of Houston, Soledad, and Main Ave. and has become a centralized location where startup culture and the essence of San Antonio become one together.

Co-working space Geekdom has been a long-time staple in the Rand since San Antonio-based Real Estate Investment and Development company Weston Urban purchased the building in 2013. Geekdom has been well-known for housing small tech and startup companies heavily involved in business services. Modern Managed IT, a San Antonio-based branch of Jungle Disk, recently recruited a long-time SA executive from Rackspace in their Rand Building office. The company serves smaller businesses that need managed IT services but are not quite at enterprise-level needs.

Companies have long been attracted to the area and have begun making their imprint on it. Recently, long-time brewer of the famous Pearl Beer, Pabst, has decided to come back into the area and establish their new headquarters in the Rand Building, sandwiching the current floors that house Geekdom. Pabst has also committed to establishing a pub within their floors to enhance their footprint and bring even more cultural events to the Rand. Pabst said that the area is more affordable for the business and its employees compared to Los Angeles and they want to be a part of San Antonio’s creativity.

Pinkerton’s Barbeque, which debuted in the 2017 Top 50 barbeque joints in Texas, is opening its new San Antonio location one block away from the front of the Rand. Pinkerton’s has received glowing reviews from its primary Houston location and San Antonians are excited for a taste. A combination of these attractive eateries and a young tech-oriented demographic draw entrepreneurial spirit and funds into the area. Geekdom’s Equity Fund, which is currently sitting on nearly $50 million, is a huge player in bringing new business along Houston St. and San Antonio in general. Their recent raising of $15 Million for startup Sea Machines series B has led to the company “leading the transition in the oceanic and maritime space.” (Michael Johnson, Sea Machines CEO). Other successful ventures like Chowbotics, FlashParking, and One Model, have all been involved with the fund and proved lucrative in the end.
A centenary like the Rand has seen the rich history of San Antonio in and around its walls and this startup work area will be another chapter in its long story.


San Antonio Sublease Activity

Quarter Class A Office Class B Office Class C Office Total
2016 Q1 46265 2857 606 49728
2016 Q2 70512 2857 0 73369
2016 Q3 54457 0 0 54457
2016 Q4 54457 3054 0 57511
2017 Q1 64401 11958 0 76359
2017 Q2 34579 10431 0 45010
2017 Q3 51081 9981 0 61062
2017 Q4 32019 6958 0 38977
2018 Q1 34241 6819 0 41060
2018 Q2 50063 8659 0 58722
2018 Q3 44134 15324 0 59458
2018 Q4 46022 15324 0 61346
2019 Q1 121666 44145 0 165811
2019 Q2 122472 53489 0 175961
2019 Q3 136671 94717 0 231388
2019 Q4 133362 100297 0 233659
2020 Q1 169402 99738 0 269140
2020 Q2 321126 134035 1584 456745
2020 Q3 489878 208721 13398 711997


San Antonio In the News

San Antonio Named One of the Friendliest Cities in America September 2020 KSAT The First Mass Timber Mid-Rise Building in Texas is Now complete September 2020 KSAT SBA Names San Antonian National Small Business Person of the Year October 2020 SABJ NRP Breaks Ground in San Antonio, Dallas Metro July 2020 Connect Texas

 

San Antonio Q3 2020 Development Pipeline

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San Antonio Submarket Map

 

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