Ten-X Commercial, a California based real estate search engine, reported San Antonio as a top market for retail investment.
In the report, Ten-X Commercial predicted that retail rents in the Alamo City could rise 4.1% by 2022. Much of the report’s data is attributed to the retail market’s growing strength in San Antonio. According to NAI Partners, the city enjoys a very low vacancy rate of 5.1% right now; however, future data predicts retail vacancy rate could rise to 8% by 2022.
Ten-X Chief Economist Peter Muoio stated investor sentiment towards retail growth in San Antonio is strong.
“Despite continued weakness in the overall retail sector, investor sentiment is stronger than it was last year…Given the trend toward retail repositioning and development, investor activity in the sector could remain strong even as fundamentals struggle.”
Recent leases such as Tru Fit Athletic Club’s move into Sears’s vacant Park Central space and America’s Incredible Pizza Company’s move into an old West Side Kmart have given many investors a stronger sense of certainty for the city’s retail market outlook.
A healthy market for our city’s retail sector provides a great opportunity for investment. Contact IRC today to schedule a tour with one of our trusted retail market specialist: 201.828.9261