Quarter 1, 2010
Change from Last Quarter (Q4 09) Down <$2.49 / SF>
Change from One Year (Q1 09) Down <$3.53 / SF>
Change from Last Quarter (Q4 09) Up +2.7%
Change from One Year (Q1 09) Up +1.8%
Change from Last Quarter (Q4 09) Down <40,500 SF>
Change from One Year (Q1 09) Down <626,000 SF>
Class A Office sublease market is down 14% from Q2, 2009 peak of 1.5 mil SF on the market.
3 Quarters in a row for positive absorption of lease space
Rental rates expected to continue to fall until mid 2010 or early 2011.
Vacancy is expected to remain relatively flat with a low 20’s #.
Quarter 4, 2009
Average Asking Office Rental Rate $27.64 / SF
Average Office Vacancy Rate 19.4%
Office Under Construction 75,500 SF
Quarter 1, 2009
Average Asking Office Rental Rate $28.68 / SF
Average Office Vacancy Rate 20.3%
Office Under Construction 661,000 SF
* Source – Grubb & Ellis, Austin Office Market, Q1, 2010
Oxford Commercial / Cushman Wakefield, Austin Office Market, Q1, 2009 / Q4, 2009
