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Austin office trend: deliveries, construction jump 1Q 2014Austin office trend: deliveries, construction jump 1Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=41892014-05-16T12:36:00Z2014-05-16T06:45:00Z

AUSTIN - During first quarter 2014, 12 buildings totaling 435,033 sf were completed, compared to one building totaling 1,805 sf completed in 4Q 2013.

The 115,000-sf Power Plant Building and Apple Campus–Phase I, an 88,000-sf facility, were both delivered in 1Q 2014 and are now 100 percent occupied.

There was 2,412,129 sf of office space under construction at the end of 1Q 2014. The largest projects underway were Green Water — a 485,327-sf building — and Colorado Tower — a 371,348-sf facility that is 35 percent preleased.

Total office inventory in the Austin market area amounted to 87,940,715 sf in 4,268 buildings at the end of 1Q 2014. The Class A office sector consisted of 31,473,317 sf in 228 projects.

There were 1,888 Class B buildings totaling 41,090,976 sf, and the Class C sector consisted of 15,376,422 sf in 2,152 buildings.

National office deliveries and construction saw 321 buildings totaling 16.1 million sf complete construction, with an additional 90.1 million sf of office space still under construction at the end of 1Q 2014.

Total office inventory in the U.S. market totaled almost 10.4 billion sf in more than 499,500 buildings at the end of 1Q 2014.

Read more at CoStar Group and Austin Chamber of Commerce at Market Data Sources under the Office category.

CoStar Group
Austin-Round Rock
Office
http://www.costar.com/news/article/market-trend-austin-office-deliveries-construction-and-inventory/160294Read more at {Source}

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