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Commercial Sublease Statistics for Austin

The following sublease statistics are as of the end of the year (12/31). What we've noticed in the last quarter is an increase in the amount of office sublease space by approximately 10%. Interestingly enough, we have seen a very slight increase in average asking rates for Class A, B, and C properties. These increases don't seem to be statistically significant, although you would think that given the increase in total available sublease space, there would be downward pressure in asking rates. Given the data, I would predict that asking rates will come down in the near future.

Total Sublease Space 931K

SW 302K sf

NW 197K sf

CBD 142K sf

Average Rates - Citywide averages

Class A $19.53

Class B $17.68

Class C $16.19

Please feel free to contact me with any questions at 512.480.3131 or 832.659.5076. You can also e-mail me at patrick.foley@bulshodge.com.

Posted by Patrick Foley on 01/04/2009 04:08 PM

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