Austin office absorption ends year at nearly 900K sf | Austin office absorption ends year at nearly 900K sf | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=21894 | 2019-02-04T06:00:00Z | 2019-02-06T01:00:00Z | AUSTIN – The city ended the year with over 70.2 million sf of office space across 997 buildings in its inventory, according to Transwestern's January 2019 Office MarketWatch report.
Citywide net absorption was at 897,481 sf, and lease activity was over 5.2 million sf. The vacancy rate remained below 15 percent throughout 2018. Direct occupancy and total occupancy ended the year at 93.4 percent and 92.5 percent, respectively.
According to the report, 59 office properties totaling nearly seven million sf sold for $1.9 billion. That's an average price per sf of $331.
The average net rent was $26.43 per sf. Class A, B, and C rents were at $31.41, $22.72, and $17.79, respectively. | Transwestern
| Austin-Round Rock
| Office
| https://transwestern.com/market-reports | | | | Source: {Source} |