Cushman & Wakefield: Austin office 2Q 2017Cushman & Wakefield: Austin office 2Q 2017https://www.recenter.tamu.edu/news/newstalk-texas/?Item=176372017-09-05T05:00:00Z2017-09-05T20:30:00Z

​​Cushman and Wakefield overall net absorption and vacancy for Austin second quarter​​AUSTIN – New building deliveries in Austin were the highlight of second quarter 2017, as more than 928,000 sf of new office product came online, including 500 West 2nd, Domain 8, and Galleria Oaks I & II. 

Citywide, total net absorption for the quarter was just under 228,000 sf, while the Central Business District (CBD) alone saw positive net absorption of 206,000 sf.

The overall vacancy rate in Austin increased to 10.5 percent, which was up slightly from the 9.8 percent posted in 1Q 2017.

In the CBD, overall vacancy increased to 9.8 percent, an increase of 230 basis points from 1Q 2017.

Asking rates were up yet again across all submarkets where the overall asking rate for the entire Austin market increased to $36.45 per sf—a year-over-year increase of 8.6 percent.

The CBD maintained its position as the highest of all submarkets with an average rental rate of $50.74 per sf.

The average Class A rate in the CBD also increased, to an average asking rate of $54.11 per sf.​
Cushman & Wakefield
Austin-Round Rock

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