Burns Commercial: Tyler's annual office market surveyBurns Commercial: Tyler's annual office market surveyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=60082013-10-17T07:30:00Z2013-10-17T06:59:00Z

TYLER - The overall occupancy rate for office properties in Tyler was 85.7 percent in 2012, while the 2013 rate is 85.8 percent, according to the yearly Burns Commercial Properties Office Market Survey.

The average lease rate for the 53 buildings surveyed is $14.44 per rentable sf, which is virtually unchanged from 2012, and is only up slightly in the past three years, as the 2010 rate was $14.21/sf.

While Class A and C office buildings are experiencing occupancy rates in the 89.9 percent to 91.7 percent range, Class B buildings contain in excess of 217,000 sf of vacant space, which is more than 71 percent of the total amount of vacancy.

Tyler Office Market Statistics
Suburban* Total
No. of buildings 14 39 53
Total SF 760,321 1,393,889 2,154,210
Total vacant SF 135,781 169,568 305,349
Occupancy rate 82.1% 87.8% 85.8%
Rent rate ($/SF/YR) $13.00 $14.98 $14.44

*South Tyler

Source: Burns Commercial Properties

Want to save time retrieving stats? See Tyler Market Data Sources. It's free as are all 25 Market Data Sources.

Company News Release
http://www.burns-commercial.com/wp-content/uploads/2012/11/2013-office-market-survey.pdfRead more at {Source}

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