CBRE: Austin's blistering office market CBRE: Austin's blistering office market https://www.recenter.tamu.edu/news/newstalk-texas/?Item=197802018-04-24T05:00:00Z2018-04-24T22:45:00Z

​​​​​​​​​AUSTIN – The office market kept rolling in first quarter 2018 ​​with new projects breaking ground and leasing market price highs.

In CBRE’s lastest report on the local market, it said that although only two new office buildings opened in first quarter 2018 “the development cycle remained blistering as an additional 700,000 sf of new projects kicked off this quarter, bringing the under-construction total to 3.4 million sf.”

According to Austin-American Statesman​, newly launched projects include:

  • East 6: 115,000 sf at 2010 E. 6th St.;
  • 1400 Lavaca St. will serve as the new headquarters building for South by Southwest with 145,000 sf;
  • Foundry, 310 Comal St., will have 75,369 sf.

CBRE’s report also stated the citywide annual average full service gross rate elevated to $34.99 per sf, a new leasing market high.

Check out Figures 5 & 6 from the report regarding leasing activity in the metro.

CBRE figures on leasing data,

Austin-Round Rock
https://www.cbre.com/research-and-reports/Austin-Office-MarketView-Q1-2018Read more at {Source}

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