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May 23

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Q1 2014 Austin Office Real Estate Market

downtown skylineQuarter 1, 2014 Austin Office Market report by CBRE shows that Austin continues to boom thanks in large part to a steady rate of employment (from April of 2013 to April of 2014, 29,900 jobs were created).  For Q1 2014 the office market resulted in:

  •  244,628 square feet of positive net absorption
  • Vacancy rate fell to 11.7%
  • 6th straight quarter of declining vacancy
  • NW and NC submarkets had majority of positive net absorption with 80,835 SF and 82,627 SF absorbed respectively
  • SW submarket had its occupancy rate rise to 91.3%
  • Rental rates rose to record levels, with citywide average at $28.59/SF/Yr on a full service gross basis representing a $.44 increase from Q4 2013

Click here to view CBRE’s First Quarter 2014 Austin Office Market Report.

Permanent link to this article: http://atxre.com/q1-2014-austin-office-real-estate-market/

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