Austin office rents up, vacancy tightAustin office rents up, vacancy tighthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=109212015-10-23T05:00:00Z2015-10-23T16:00:00Z​​​​AUSTIN – Cushman & Wakefield/Oxford Commercial’s third-quarter report shows that overall office rental rates shot up to $33.02 per sf, a 13.2 percent increa​se over this time last year. That's the highest rate recorded for the area since CWOC started tracking the stats in the early '90s.

Class-A space in the central business district had the highest rental rates at $48.07 per sf, up 11.5 percent from the same time last year.

Vacancy rate was tight at 9 percent with 3.1 million sf of new office space either currently under construction or recently delivered.

The market’s highest vacancy rates we​re in the southeast submarket (22.3 percent), followed by the central submarket (16 percent). The tightest vacancy rate is south central Austin, at 1.8 percent, followed by Round Rock’s 6.6 percent.

Year-to-date absorption for the third quarter totaled 1.8 million sf, meaning the office market has already absorbed more space in 2015 than it did all last year.

CWOC expects rentals to continue pushing new highs through the end of the year.
Austin-Round Rock
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