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AUSTIN OFFICE RENTAL RATES MOVE SLIGHTLY

By
Commercial Real Estate Agent with Paul Johnson and Associates

The best and newest retail properties in Abilene are the only commercial real estate offerings that come near the Austin fourth quarter avg rental rates at $25.43 for their office space.  Abilene office space for full service facilities top out around $14 annually.

- Erik

AUSTIN OFFICE RENTAL RATES MOVE SLIGHTLY

AUSTIN (Austin Business Journal) - Oxford Commercial Inc. reports that office vacancy increases and price declines in Austin slowed marketwide in fourth quarter 2009.

Downtown had a slight rise in rental rates from the third quarter, increasing from $36.35 to $36.72 per sf.

South central was the only other area with rate increases, moving from an average of $19.06 per sf to $20.16 per sf in the fourth quarter.

In the far northwest region of the city, rental rates fell slightly to $25.57 from $26.06. Northeast rates declined from $18.32 to $17.27 and from $21.85 to $21.68 in the northwest region.

Round Rock office rates fell to $22.35 from $22.50, and rates in the southeast and west also decreased.

The fourth quarter average rental rate across all markets was $25.43, down from $25.58.

Overall vacancy rates increased in five areas of Austin last month, including downtown, where rates hit 17.3 percent, down from 16 percent in third quarter 2009. The northwest region increased from 14.5 percent to 15.9 percent, and south central's vacancy went from 6.3 percent to 7.1 percent. The southeast's rate increased slightly from 32.4 percent to 32.87 percent, and southwest rates increased from 21.95 percent to 22.2 percent.

In all areas, fourth quarter vacancy averaged 22.3 percent, up from 21.95 percent in the previous quarter.

Posted by

Erik Johnson, CCIM
Paul Johnson & Associates
4633 South 14th
Abilene, TX 79605
325 698-5661 office
325 692-8508 fax
325 439-0186 mobile
Erik@PaulJohnsonRealtors.com  
www.pauljohnsonrealtors.com