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Austin office 2Q 2014: REOCAustin office 2Q 2014: REOChttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=35042014-07-29T16:31:00Z2014-07-29T00:00:00Z

AUSTIN - New leases and expansions generated 306,517 sf of positive net absorption in second quarter 2014. This raised the year-to-date total gain to nearly 636,000 sf, according to the survey of more than 41.7 million sf of Austin-area office lease space.

In response, the citywide vacancy rate tightened to 9.7 percent compared with 10.5 percent in 1Q 2014 and 12.3 percent recorded in 2Q 2013.

At the end of June, the citywide average quoted rental rate climbed to $26.32 per sf per year, which is up $0.14 over 1Q 2014 and $1.52 compared with 2Q 2013 for a dynamic annual increase of more than 6 percent.

Austin 2Q 2014 Office Report
Submarket Total
Inventory
Total
Vacant SF
Vacant Avg. Quoted
Rent Rate
CBD 8,355,282 823,650 9.9% $36.15
Central 2,234,316 263,649 11.8% $24.87
North 914,248 178,895 19.6% $18.10
Northwest 12,906,400 1,042,433 8.1% $26.76
Far Northwest 3,534,537 398,063 11.3% $23.08
Northeast 1,855,269 232,011 12.5% $17.22
South 1,533,096 61,676 4.0% $24.28
Southeast 1,070,401 127,707 11.9% $19.78
Southwest 8,413,165 769,961 9.2% $28.63
Round Rock 886,519 131,410 14.8% $21.05
Totals 41,703,233 4,029,455 9.7% $26.32


Source: REOC Austin.

Click here to see the full 2Q report.

For more stats, look under Office inĀ Austin Market Data Sources.

REOC AUSTIN
Austin-Round Rock
Office
http://www.reocaustin.com/market.htmRead more at {Source}

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