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JLL: Austin office stats 1Q 2015JLL: Austin office stats 1Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=6762015-06-18T05:00:00Z2015-06-18T08:00:00Z

‚ÄčAUSTIN - JLL has released first quarter 2015 Austin Office Insight report.

More than 600,000 sf of new construction delivered downtown in first quarter, representing a 7.6 percent increase in downtown inventory. Class A downtown deliveries during first quarter were over 90.0 percent leased.

Demand for larger blocks of space has increased, coupled with a limited supply of 50,000-sf blocks of contiguous space, has caused rental rates to rise.

While operating expenses have risen substantially due to increased appraisal values, the largest contribution to rent growth over the last five years is attributed to increases in base rent.

Approximately 68.0 percent of total sales transactions traded in the northwest submarket in first quarter 2015.

Class A and B Totals Austin Office Statistics 1Q 2015
  Inventory
(SF)
Total Net
Absorp.
(SF)
Total
vacancy
Average
Direct
Asking Rent
($/SF)
Under
Construction
(SF)
CBD 9,670,906 375,100 11.1% $45.51 755,388
Suburbs 37,826,419 192,218 13.1% $29.00 2,717,695
Austin Total 47,497,325 567,318 12.7% $32.19 3,473,083


For the full report see JLL Austin Office Stats and Insight 1Q 2015 plus historical (PDF).

JLL
Austin-Round Rock
Office
https://assets.recenter.tamu.edu/Documents/MktResearch/Austin_Office_JLL.pdfRead more at {Source}

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