Houston-based NAI Partners reported Thursday the average asking rents for area retail properties hit an all time high of $17.32 per square foot in May 2022, showing strong market demand in the city despite national inflation sitting at a 40-year high and fears of a looming recession.
That’s up 5% from 2021′s high of $16.50.
According to the report, leasing activity for retail spaces was up 26% from May 2021. Demand in areas adjacent to the city limits is also remaining high as lessees flee more expensive rates within city limits.
Since May 2011, the largest retail transaction was 121,581 square feet of spaced leased at Schertz Corporate Center in Schertz.
The companies leasing the second and third largest retail spaces in Greater San Antonio included Plano-headquartered entertainment company, Pinstack and LA Fitness.
Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.