Quarter 1, 2012 Commercial Real Estate Market Report, Austin, Texas

Marketbeat Office Snapshot, Austin, TX
Quarter 1 2012

Vacancy fell in the Austin office market for the 5th consecutive quarter, dating back to Q1 2011.  Overall vacancy is currently at 15.9%.  Overall vacancy in the local market has trended downward since 2009.  Average full service lease rate totals $25.54 / sf which is up $.54/sf from Q4 2011.  Over 500,000 sf of positive direct office absorption was achieved during Q1 2012.  Click Austin, TX – Office, Q1 ’12 for a detailed report by Cushman & Wakefield.

For the 5th consecutive quarter Austin experienced significant positive net absorption in the industrial market.  A total of 330K+ sf was absorbed during Q1 2012.  NNN asking rates have risen across all sectors with $8.04 per sf for R&D/flex, $5.64 per sf for warehouse/distribution and $6.36 per sf for manufacturing.  Vacancy rates also continue their decline, dropping from 15.5% in Q4 2011 to 14% in Q1 2012.  Click Austin, TX – Industrial, Q1 ’12 for a detailed report by Cushman & Wakefield.

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