Fundamentals have slowed when it comes to the first Quarter of 2020 Austin Office Market.
- Absorption increased to 600,000 + square feet.
- Triple net asking rates and OPEX costs caused the average asking rates to decline from $38.89/SF to $36.64 Quarter 1 2020 over Quarter 1 2019.
- Vacancy increased to 10.9%.
- Development remains strong with almost 7 million square feet under construction.
Information courtesy of CBRE. Click here for link.