Market Report | San Antonio Q1 + Q2 2020
Office Overview –
The San Antonio office market is changing quickly! Much of the fallout of the pandemic has yet to be realized as many large companies are still working from home but still paying office rent. Many large office buildings enjoy the benefits of high occupancy rates even with very little human activity at these properties.
Social distancing is having a profound impact on today’s workspace. We believe co-working and cubicle environments will rapidly change to private offices in less dense office settings. For larger companies, this may mean there will be a reduction in office space with employees having the flexibility to work from home. Or, we may see the office footprint increase to accommodate more private work environments. We believe we will see a mixture of both depending on the companies ability to effectively manage their staff remotely as well as their abilities to utilize the latest business technologies. We’ve received a tremendous volume of calls from clients over the past six months. Much more than we had anticipated at the start of the pandemic.Activity has ranged from clients looking to downsize or sublease their space, relocate their space to meet social distancing guidelines, as well as a tremendous volume of small office space requirements for startups and people looking to work away from their homes.We are happy to report the entrepreneurial spirit is alive and well. Business owners are adapting quickly.