AUSTIN-ROUND ROCK – Despite a decrease in absorption in third quarter 2016, the Austin market remains strong going into 4Q 2016.
Asking rates have continued to rise as space has become more scarce with decreased vacancy rates across most submarkets.
In the CBD, asking rates have increased significantly, once again. Class A rates in particular are at record highs, with several properties in the CBD asking more than $60 psf.
The overall market rate increased to $34.00 psf, a $0.46 increase from 2Q 2016.
See Cushman and Wakefield's full 3Q 2016 Office report
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