Aug 22, 2013
NAI REOC: Austin 2Q 2013 office
AUSTIN - Dynamic job growth translated into new tenant leases and expansions which generated 384,727 sf of positive net absorption in the local office market, according to second quarter 2013...
AUSTIN – Dynamic job growth translated into new tenant leases and expansions which generated 384,727 sf of positive net absorption in the local office market, according to second quarter 2013 report by NAI REOC Austin.
In all, 2Q 2013 activity increased the year-to-date total net absorption to 486,298 sf.
With no new supply delivered to offset the gains, the citywide direct vacancy rate tightened to 12.3 percent, compared to 13.2 percent in 1Q 2013 and 14.7 percent recorded in 2Q 2012.
| Submarket | Total Inventory | Total Vacant SF | Vacant | Avg. Quoted Rent Rate |
| CBD | 8,409,672 | 915,572 | 10.9% | $31.96 |
| CENTRAL | 2,230,593 | 335,482 | 15.0% | $22.76 |
| NORTH | 851,980 | 228,429 | 26.8% | $18.41 |
| NORTHWEST | 12,773,290 | 1,454,423 | 11.4% | $25.35 |
| FAR NORTHWEST | 3,670,981 | 688,456 | 18.8% | $23.61 |
| NORTHEAST | 1,866,972 | 306,110 | 16.4% | $15.80 |
| SOUTH | 1,533,096 | 96,581 | 6.3% | $22.72 |
| SOUTHEAST | 1,039,950 | 162,116 | 15.6% | $16.30 |
| SOUTHWEST | 8,188,569 | 752,284 | 9.2% | $26.63 |
| ROUND ROCK | 865,942 | 169,152 | 19.5% | $21.02 |
| Totals | 41,431,045 | 5,108,605 | 12.3% | $24.80 |
Analysis by NAI REOC San Antonio based on data provided by Xceligent and approved
by the Office Advisory Board.
Source: REOC Austin
Did you like this NewsTalk?
You might also like
PUBLISHED SINCE 1977
TG Magazine
Check out the latest issue of our flagship publication.