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Austin’s office vacancy tighter than a hipster’s jeansAustin’s office vacancy tighter than a hipster’s jeanshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=189672018-02-20T06:00:00Z2018-02-20T23:00:00Z

​​​​​Graph of supply and demand for office spacesAUSTIN – The overall vacancy rate dropped to 8.6 percent in fourth quarter 2017—the lowest vacancy ever recorded in the Austin office market, reports NAI Partners in their Q4 2017 Office Quarterly Market Report​.

Among other highlights in NAI Partner’s report:
  • Technology companies accounted for one-third of lease signings in 4Q 2017.
  • Net absorption registered 591,486 sf as of the quarter’s end, adding up to 2.2 million sf of positive net absorption year-to-date.
  • Demand has outpaced supply in the last five years, excluding 2015.
  • Record-breaking rents jumped by $0.55 per sf quarter-over-quarter to close 2017 at $34.94.
  • ​The amount of space under construction averaged 4.3 million sf in 2017, indicating another all-time high.
NAI Partners
Austin-Round Rock
Office
http://www.naipartners.com/research/quarterly-report/See the full report at {Source}

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