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Austin office hot streak 4Q2015: Cushman & WakefieldAustin office hot streak 4Q2015: Cushman & Wakefieldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120412016-02-10T06:00:00Z

​​​AUSTIN-ROUND ROCK - The office market continued its hot streak, recording strong absorption and steady vacancy for fourth quarter 2015.

The office market recorded 712,782 sf of overall absorption during 4Q2015, bringing the year-to-date total to 2.5 million sf of overall absorption.

The Far Northwest submarket experienced the strongest amount of absorption, recording 300,240 sf of overall absorption.

Vacancy rates in the Austin market remained steady with 3Q2015 at 9.1 percent.

Strong absorption rates coupled with low vacancy rates continue to raise full service asking average rental rates to historic highs.

The overall full service rental rate for the entire Austin market was recorded at $33.37 per sf for 4Q2015, an increase of 13.9 percent from the rate recorded during 4Q2014.

The Central Business District average rental rate of $46.34 per sf, maintained its position as the highest across all submarkets.

Additionally, the average full service rate for the CBD is $6.19 per sf higher than the average rate at the end of 4Q2014.

Key sales transaction for the year include two Far Northwest properties, the 1,112,236-sf IBM campus for $205 million and the 913,000-sf 7700 Parmer property for $274 million.


Cushman & Wakefield
Austin-Round Rock
Office
https://assets.recenter.tamu.edu/Documents/MktResearch/Austin_Cushman_Wakefield_Office.pdf

See Austin Office Market Research for a variety of source reports. For U.S. cities' information, see Cushman & Wakefield's website​.

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