San Antonio’s retail market is experiencing a surge in occupancy, reaching an impressive 95.0% at mid-year 2024. This success can be attributed to the balanced supply and demand that has been maintained for over fifteen years.
The demand for prime vacancies remains strong, despite a limited number of new retail spaces being delivered. The majority of these new spaces are anchor stores, with minimal availability for smaller shops.
These findings have been gathered through Weitzman’s thorough review of San Antonio’s expansive retail inventory which consists of approximately 48.8 million square feet in shopping centers with a minimum size requirement of 25,000 square feet.
Based on current projections and upcoming developments set to be completed by the end of calendar year 2024, San Antonio is estimated to add around 280,400 square feet in new retail projects exceeding the minimum size requirement mentioned above.
This anticipated total would mark one of the lowest numbers recorded since data collection began and only trails behind last year’s deliveries totaling approximately279 ,000 square feet – setting yet another record low for this thriving market.
