2012 Tyler Office Market Survey: Burns Commercial2012 Tyler Office Market Survey: Burns Commercialhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=91092012-11-06T15:28:00Z2012-11-06T00:00:00Z

TYLER - Burns Commercial Properties recently released its 2012 Tyler Office Market Survey.

The 54 properties and 2,196,316 sf of office space in Tyler are currently experiencing an occupancy rate of 85.7 percent, down 1 percent from the 2011 mark.

The average asking rental rate was up very slightly from $14.33 per sf last year to $14.51.

Downtown occupancy slipped from 83.9 percent in 2011 to 80.05 percent this year, while the suburban buildings fared better, increasing from 88.1 percent in 2011 to a current mark of 88.8 percent.

Absorption netted just over 13,000 sf during the past year. There is a total of 313,108 sf of vacant space on the market, which is almost equally divided between the downtown and suburban markets.

The Class B buildings contain 70 percent of the vacant space as the Class A and Class C buildings are enjoying an overall occupancy rate in excess of 90 percent compared to 80.8 percent for the Class B structures.

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