Posted Jan 11, 2013, 6:06 AM
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Meh
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Join Date: Jul 2001
Location: Austin,TX<-->Dripping Springs,TX<-->Birmingham, AL<-->Warm Springs,GA
Posts: 57,205
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http://www.statesman.com/news/busine...ingjob-/nTsLd/
Quote:
Posted: 4:00 p.m. Thursday, Jan. 10, 2013
Austin area office market ends year on upswing
Job growth pushes occupancies, rents higher
By Shonda Novak
American-Statesman Staff
Central Texas’ office market ended on a strong note in 2012, with occupancy and rent rates for first-class space continuing their upward trend, according to Oxford Commercial.
The year was marked by brisk activity in office-building sales, including 19 transactions pending at year’s end, Oxford said.
In its fourth-quarter report, Oxford Commercial said the occupancy rate for top-flight — or Class A — space rose to its highest level since 2007. It settled a smidge short of 87 percent, up from 82.5 percent at the end of 2011, Oxford said. Rents for Class A space averaged $30.50 per square foot , up from $28.31 in late 2011 — a 7.7 percent increase, Oxford said.
During 2012, the market absorbed nearly 1.5 million square feet of space — 50 percent more than in 2011, and the highest amount since 2000, said Greg Johnston, an Oxford partner.
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