CoStar: Austin office market 3Q 2014CoStar: Austin office market 3Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=24892014-11-12T08:17:00Z2014-11-12T07:43:00Z

AUSTIN - CoStar Group has released third quarter 2014 data for the Austin office market.

Six buildings totaling 102,912 sf were completed in 3Q 2014, less than the eight buildings totaling 342,617 sf that were completed in 2Q 2014.

There was 2,800,908 sf of office space under construction at the end of 3Q 2014.

Some of the notable 2014 deliveries include:

  • Domain 2, a 143,331-sf facility that delivered 2Q 2014 and is now 80 percent occupied; and
  • Apple Campus — Phase I #1, an 88,000-sf building that delivered 1Q 2014 and is now 100 percent occupied.

The largest projects underway at the end of 3Q 2014:

  • Colorado Tower, a 371,348-sf building with 95 percent of its space preleased; and
  • 3700 San Clemente, a 249,870-sf facility that is 38 percent preleased.

Total office inventory in the Austin market area amounted to 88,360,935 sf in 4,301 buildings as of the end of 3Q 2014.

This trend is compared to U.S. National Office deliveries and construction, which saw 233 buildings totaling 13.2 million sf complete construction, with an additional 108.2 million sf of office space still under construction at the end of 3Q 2014.

CoStar Group
Austin-Round Rock
http://www.costar.com/News/Article/Market-Trend-Austin-Office-Deliveries-Construction-and-Inventory/166006Read more at {Source}

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