Quarter 2, 2013 Austin Office Market Update

NAI Reoc Austin released their second quarter Austin Office Report August 9, 2013 and the Austin office market continues to sizzle.

[important]Direct vacancy continues to go down currently at 12.3% compared to 13.2% last quarter and compared to 14.7% in the second quarter of 2012.[/important]

With no new office space delivered in this quarter the amount of available space has tightened.

[important]The average city-wide full service rental rate is up to $24.80/sf/year up $.49/sf/year over the previous quarter and up $1.53/sf/year compared to a year ago.[/important]

NAI REOC Austin Office Report Second Quarter 2013