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Austin office 4Q 2013: REOCAustin office 4Q 2013: REOChttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=50342014-02-06T08:03:00Z2014-02-06T00:00:00Z

AUSTIN - Office properties in the Austin area turned in another strong performance in fourth quarter 2013, ending the year on a high note. New leases and expansions generated 269,356 sf of positive net absorption in 4Q 2013, according to fourth quarter report by REOC Austin.

Combined with the gains logged earlier in the year, 4Q 2013 pushed the annual total absorption figure over the 1 million mark to 1,071,129 sf. In turn, the positive absorption tightened the citywide vacancy rate to 11.3 percent — a level not seen since 2007.

At the close of 2013, the citywide average quoted rental rate climbed to $25.59 per sf — which is up $1.68 or 7.0 percent compared to a year ago.

Austin 4Q 2013 Office Report
Submarket Total
Inventory
Total
Vacant SF
Vacant Avg. Quoted
Rent Rate
CBD 8,364,672 883,452 10.60% $34.09
Central 2,230,593 319,230 14.30% $24.20
North 914,248 241,635 26.40% $19.14
Northwest 12,824,810 1,310,293 10.20% $26.33
Far Northwest 3,670,981 489,153 13.30% $22.48
Northeast 1,866,972 266,610 14.30% $17.08
South 1,533,096 66,593 4.30% $23.81
Southeast 1,070,401 157,843 14.70% $18.71
Southwest 8,299,605 807,819 9.70% $27.64
Round Rock 865,942 147,687 17.10% $21.04
Totals 41,641,320 4,690,315 11.30% $25.59


Source: REOC Austin. See more office under Austin Market Data Sources.

REOC AUSTIN
Austin-Round Rock
Office
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