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Cushman & Wakefield office report: 4Q 2012 AustinCushman & Wakefield office report: 4Q 2012 Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=80792013-02-28T13:55:00Z2013-02-28T13:00:00Z

AUSTIN - For the eighth consecutive quarter, the Austin office market has experienced positive absorption with a total of 487,801 sf of direct absorption during fourth quarter 2012, according to Cushman & Wakefield.

The Austin office market had the highest year-to-date direct absorption total since 2000, totaling 1,494,613 sf for 2012.

The Far Northwest and Northeast submarkets experienced the highest levels of absorption this quarter with direct absorptions totaling 177,606 sf, and 107,117 sf, respectively.

The overall vacancy for the Austin office market stands at 13.2 percent — 4.1 percentage points less than 4Q 2011. The average full service asking rental rate for the Austin office market stands at $26.79 per sf, up $1.76 per sf from 4Q 2011.

Austin Office Report 4Q 2012 — Submarket Comparison
Submarket Inventory Overall
Vacancy
Rate
YTD Overall Net
Absorption
Overall Wtd. Avg.
All Class Gross
Rental Rate
CBD 8,612,657 11.5% 268,746 $36.80
Central 998,679 16.1% 17,084 $30.92
Far Northwest 12,413,074 15.7% 587,538 $26.62
North Central 2,485,635 16.8% 14,298 $19.87
Northeast 1,994,845 12.0% 172,197 $17.23
Northwest 3,950,337 11.6% 190,511 $23.91
South Central 2,103,594 5.4% 144,647 $21.79
Southeast 992,420 24.4% 30,472 $13.83
Southwest 8,132,772 10.7% 131,835 $28.86
Round Rock 1,112,135 16.9% 253,061 $18.70
Totals 42,796,148 13.2% 1,810,389 $26.79


Read more at Cushman & Wakefield.

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