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Sep 30

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Austin Office Property Sales Increase Year over Year

austin vista copy[important]The number of office building sales doubled in the first half of 2013 compared to the first half of 2012 according to a recent article in the Austin American Statesman.[/important]

Twenty office buildings sold from January to June 2013 according to Helen Jobes at Kennedy Wilson (Commercial Real Estate Investment Firm) compared to ten in 2012.  Local brokers are quoted as stating that average office rents are at near record high levels and with an 87% occupancy rate – the market is effectively out of office space.

With ever increasing rental rates and tightening office space availability, Austin is a strong investor market that is attracting national and international investors as well who now view Austin as a “main market” versus its view in the past as a mid level market.

Click here for Austin American Statesman article provided by Businessweek

Permanent link to this article: http://atxre.com/austin-office-property-sales-increase-year-over-year/

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