Quarter 4, 2013, Austin, Texas Office Market Report

austin skylineCoStar’s Q4 2013 Office Market report gives us a glimpse into the rapidly improving Austin Office Market.  Here are the details:

  • Vacancy rate fell to 9.3% when compared to the previous quarter.
  • Q4 net absorption totaled almost 500,000 SF up from the positive 300,000 SF absorbed in Q3.
  • Rental rates average $27.94/SF/Year an increase over Q3.
  • Almost 2 million SF still under construction in Q4.
  • VISA led the way with the largest lease space absorbed in the quarter at 173,530 SF at Research Park Plaza Bldg III.

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