Austin still third on CBRE's annual Tech-Thirty listAustin still third on CBRE's annual Tech-Thirty listhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=153162016-11-28T06:00:00Z2016-11-28T22:00:00Z

​AUSTIN – The Capital City held steady at number three on CBRE's annual Tech-Thirty list, which analyzes the 30 leading technology markets in the U.S. and Canada in terms of high-tech software/services job growth. 

The city saw its high-tech jobs grow 33.3 percent from 2013 to 2015, evenly paced with 33.4 percent growth from 2012 to 2014 and above the national annual average of 7.3 percent growth seen over the last five years for this sector.

Austin ranked second for two-year office net absorption or occupancy growth from Q3 2014 to Q2 2016 with 4.1 million sf of net absorption in that period, representing 8.4 percent of inventory.

Average office rents in Northwest Austin rose 15.8 percent to $32.99, compared with 15.3 percent to $33.22 for the overall market from Q2 2014 to Q2 2016. The city was eighth in office market rent growth.​

“Austin is approaching a maturity level in this cycle, though our record absorption levels indicate rental rates will likely continue to climb," said Erin Morales, senior vice president of the Technology and Media Practice group in CBR​E. "​Mature tech companies continue to cluster in the Northwest submarket, which has a lot going for it—extensive development in The Domain offers new amenities to support talent recruitment and retention, while residential development is booming in the surrounding suburbs.”​

Austin-Round Rock
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