Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Office Vacancies Increase Slightly, Absorption Remains Steady
Q3 2018 metrics for Austin’s office sector weren’t earth-shattering, with research pointing to a marginal increase in vacancy rates and steady absorption. NAI Partners pointed out that, in the month of September 2018, “construction activity remains elevated, with the amount of space under construction at 4.5 million square feet.” Approximately 56% of the new space is pre-leased.
Even with positive absorption, CBRE analysts noted that “year-to-date activity remains relatively low, compared to the past three years.” Savills Studley researchers agree, noting that the absorption rate dropped by 23.1% compared to Q2 2018.
For comments, questions or concerns, please contact Amy Sorter
- ◦Lease
