Burns Commercial: 2015 Tyler Office Market SurveyBurns Commercial: 2015 Tyler Office Market Surveyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=110042015-11-03T06:00:00Z2015-11-03T15:00:00Z

​​​​​​​TYLER - The annual Burns Commercial Properties Office Market survey was just completed and the results indicate that the gradual decrease in the office occupancy rate in the city has continued over the past 12 months. 

The Survey includes 56 buildings consisting of 2,233,733 sf.

Owner occupied buildings are not included in the Survey​​.

The current overall occupancy rate stands at 84.9 percent, a decrease from 85.9 percent one year ago.

Going back to the year 2008, the occupancy rate was 90.2 percent, with a total of 209,291 sf of vacant space.

Currently, the local market contains 336,730 sf of vacancy.

This has occurred despite the fact that there has not been a large speculative office building constructed in the city since 1986.

The occupancy rate has been trending downward for years, increasing slightly in 2010, but declining in all the other years since 2008.

The Survey reveals that the average rate landlords are quoting for vacant space rose slightly from last year's $14.76 per sf to $15.24 per sf.

Class A buildings experienced a decrease in occupancy from 89.3 percent to 86.5 percent, while Class B structures increased in occupancy from 82.4 percent in 2014 to 83.1 percent in 2015.

Class C building occupancy rates decreased from 90.7 percent to 88.8 percent.​

Burns Commercial

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