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CBRE Texas office: Big four metros 1Q 2015CBRE Texas office: Big four metros 1Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=7682015-06-12T08:58:00Z2015-06-11T09:00:00Z

TEXAS - The Texas office market closed out first quarter 2015 with mixed signals in terms of overall fundamentals, yet continued to add jobs despite sustained lows in oil prices.

The state continues to experience healthy employment growth and is a vital component of the nation's growth, as the state accounted for nearly one-fifth of the country's payroll gains over the last year and is home to 52 Fortune 500 headquarters.

The state unemployment rate dropped from the previous quarter, at 4.3 percent in February 2015 and is down from 5.7 percent in February 2014.

Total net absorption for 1Q 2015 yielded approximately 2.7 million sf, slightly higher than the amount of net absorption posted in 4Q 2014 among the four major Texas office markets.

Texas Office Market Statistics 1Q 2015
Market Rentable
Area
(SF)
Total
Availability
(SF)
Vacancy
Rate
Net Abs.
(SF)
Under
Const.
(SF)
Asking
Rate
(SF)
Austin 43,665,210 6,533,950 11.5 442,682 288,552 $31.66
DFW 218,268,879 51,810,944 18.3 1,216,398 6,340,914 $20.70
Houston 201,947,638 30,520,137 12.6 577,700 15,894,915 $27.17
San Antonio 27,343,961 5,465,913 15.5 426,409 746,977 $20.67


See CBRE's full report Texas Office: Big Four Metros 1Q 2015 (PDF).

Source: CBRE

More data sorted by Texas MSAs? Visit Market Research.

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