Colliers: Austin 3Q 2015 Office Market ReportColliers: Austin 3Q 2015 Office Market Reporthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=111742015-11-17T06:00:00Z2015-11-17T16:00:00Z

​​AUSTIN - Austin’s third quarter 2015 office market indicators reflect the highest positive net absorption ever recorded in the city, according to Colliers International.

Austin’s citywide vacancy rate decreased 70 basis points from 13.2 percent to 12.5 percent between quarters, continuing its gradual decrease since 2Q 2009.

The city’s office market posted 871,282 sf of positive net absorption in 3Q 2015, most of which occurred in CBD’s Class A office buildings, and in the far northwest, northwest and southwest submarkets. 

The northwest submarket posted the largest positive absorption of 306,849 sf.

The citywide average rental rate increased slightly by 0.46 percent from $30.16 to $30.30 per sf over the quarter.

Citywide average Class B rental rates are much lower than Class A space, averaging at $24.63 while Class A citywide average rental rates are $35.67 per sf.

Austin’s office leasing activity recorded 887,637 sf in 3Q 2015.

Major transactions this quarter included new leases for Electronic Arts Inc. who will take 125,007 sf at 7700 Parmer (Bldg B), and Oracle who will occupy 121,275 sf in 7700 Parmer (Bldg C).

Colliers International
Austin-Round Rock

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