Austin office 3Q 2013 growth in burbs: REOCAustin office 3Q 2013 growth in burbs: REOChttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=57142013-11-15T07:10:00Z2013-11-15T06:45:00Z

AUSTIN - Job growth continues to translate into new tenant leases and expansions in the Austin office market. Gross leasing activity generated 303,810 sf of positive net absorption in third quarter 2013, according to the third quarter report by REOC Austin.

Activity in the suburban areas accounted for the lion’s share of activity in 3Q 2013. While office buildings in the CBD experienced a rather quiet 34,240 sf of positive net absorption, suburban buildings experienced 269,570 sf.

Year-to-date, the greater office market has experienced a total net absorption of 760,944 sf with the CBD accounting for 83,685 while suburban markets accounted for 677,259 sf.

  3Q 2013 3Q 2012
Austin Office Market
Inventory 41,591,581 41,352,954
Available 4,912,725 5,757,824
Vacant 11.8% 13.9%
Average rent $25.34 $23.62
3Q absorption 303,810 751,515
YTD absorption 760,944 884,724

Source: REOC Austin

See Austin Market Data Sources for 3Q 2013 information for more commercial real estate.

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