AUSTIN – The office market ended 2018 with higher rental rates and higher absorption, according to Colliers International’s Austin Office Q4 2018 Report.
The fourth quarter recorded 163,796 sf of positive net absorption. The majority of that occured in Class A buildings, totaling 129,775 sf of positive net absorption.
There is currently nearly 4.3 million sf of office space under construction, with almost 2.6 million sf preleased.
The citywide average rental rate increased over the quarter from $35.33 per sf to $36.19 per sf.
Vacancy decreased from 10.6 to 10.3 percent quarter over quarter.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.