San Antonio Retail Market Report

Retailers zero in on prominent pockets of residential expansion. Local population growth has stayed above the pre-pandemic metric for the past three years, accompanied by a growing need for essential retailers, with grocery-anchored centers showing strong performance. Consumer demand in 2025 will likely heighten in New Braunfels and Far Northwest San Antonio after over 5,800 apartment units were completed in both areas last year, with 5,300 absorbed on net. Additionally, about one-fifth of the population growth in 2024 was from the age 20 to 34 cohort, driving a need for entertainment- and health-related venues. The three largest move-ins planned for 2025 will be a movie theater in Far West San Antonio, a sporting goods store in Comal County and a gym in Northwest San Antonio. As young professionals continue to migrate to the metro and employers bolster return-to-office policies, retailers in the CBD and Northwest San Antonio could receive additional weekday foot traffic, especially after both submarkets reported triple-digit office vacancy compression last year.