AUSTIN – After 37 consecutive quarters of positive net absorption, the local office market registered negative 1.27 million sf in 2Q2020.
According to CBRE, overall asking rates stabilized at $39.11 per sf after dropping to $36.64 in 1Q2020.
Vacancy increased 190 basis points quarter over quarter from 10.9 percent to 12.8 percent.
There are 33 projects totaling 6.5 million sf under construction. Last quarter, 756,565 sf came online.
The Real Estate Center has more office news for Austin-Round Rock: