Quarter 4, 2013, Austin, Texas Office Market Report
CoStar’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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