San Antonio Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, CBRE, Matthews, Cresa, JLL, Partners Real Estate, Colliers
Quarterly office market indicators for San Antonio, aggregated by CREhunt from Cushman & Wakefield, CBRE, Matthews, Cresa, JLL, Partners Real Estate, Colliers. As of Q2 2026, average asking rent was $27.97/SF/yr and vacancy was 15.2%, per Cushman & Wakefield.
Projected current office pricing — San Antonio
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 multiple brokerages data (cap rate 7.0%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $27.97/SF/yr | 15.2% | 284K SF | — | Cushman & Wakefield |
| Q2 2026 CBRE | $29.76/SF/yr | 17.6% | -44K SF | — | CBRE |
| Q1 2026 CBRE | $30.26/SF/yr | 18.5% | 2K SF | — | CBRE |
| Q1 2026 Matthews | $29.09/SF/yr | 12.2% | — | — | Matthews |
| Q1 2026 Cresa | $29.27/SF/yr | 10.8% | 876K SF | — | Cresa |
| Q1 2026 JLL | $28.59/SF/yr | 18.1% | 72K SF | — | JLL |
| Q1 2026 Cushman & Wakefield | $27.80/SF/yr | 16.0% | — | 4 SF | Cushman & Wakefield |
| Q1 2026 Partners Real Estate | $28.50/SF/yr | 16.2% | 180K SF | — | Partners Real Estate |
| Q4 2025 Partners Real Estate | $27.94/SF/yr | 16.9% | 584K SF | — | Partners Real Estate |
| Q4 2025 Matthews | $30.18/SF/yr | 11.8% | 236K SF | — | Matthews |
| Q4 2025 CBRE | — | 2.3% | — | — | CBRE |
| Q4 2025 Cushman & Wakefield | $27.58/SF/yr | 16.0% | 116K SF | 16 SF | Cushman & Wakefield |
| Q3 2025 Partners Real Estate | $27.92/SF/yr | 17.8% | 31K SF | — | Partners Real Estate |
| Q2 2025 Cushman & Wakefield | $27.35/SF/yr | 16.9% | — | — | Cushman & Wakefield |
| Q4 2024 Cushman & Wakefield | $24.05/SF/yr | 16.5% | — | — | Cushman & Wakefield |
| Q4 2023 Colliers | $90.00/SF/yr | — | 397K SF | — | Colliers |
| Q3 2021 Cushman & Wakefield | $23.82/SF/yr | 5.8% | 270K SF | — | Cushman & Wakefield |
| Q4 2020 Cushman & Wakefield | $50.00/SF/yr | 31.8% | -7K SF | — | Cushman & Wakefield |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each San Antonio office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| CBD | $27.73/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Far North Central | $33.18/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Far Northwest | $40.41/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Far West | $31.21/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Midtown | $42.32/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| North Central | $26.27/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northeast | $24.88/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northwest | $26.98/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South | $37.23/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for San Antonio office did not fully agree. On vacancy, the sources span 2.4 points — from 15.2% (Cushman & Wakefield) to 17.6% (CBRE). Asking-rent estimates differ by $1.79/SF/yr — from $27.97/SF/yr to $29.76/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 17.6% | $29.76/SF/yr | — |
| Cushman & Wakefield | 15.2% | $27.97/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in San Antonio?
- As of Q2 2026, the average asking rent for office space in San Antonio was $27.97/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in San Antonio?
- The office vacancy rate in San Antonio was 15.2% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's San Antonio market data come from?
- This report aggregates quarterly office market data for San Antonio from Cushman & Wakefield, CBRE, Matthews, Cresa, JLL, Partners Real Estate, Colliers.
- How much do brokerage estimates differ for office space in San Antonio?
- For Q2 2026, the brokerage sources CREhunt aggregates for San Antonio did not fully agree. On vacancy, the sources span 2.4 points — from 15.2% (Cushman & Wakefield) to 17.6% (CBRE). Asking-rent estimates differ by $1.79/SF/yr — from $27.97/SF/yr to $29.76/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.