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Austin office market sees first quarter of negative absorption in ten years

CBRE's 2Q2020 Austin office report

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 stabil​​ized at $39.11 per sf after dropping to $36.64 in 1Q​​2020. 

Vacancy increased 190 basis points quarter over quarter from 10.9 percent to 12.8 percent. 

T​here are 33 projects totaling 6.5 million sf under construction. Last quarter, 756,565 sf came online.

Texas logoThe Real Estate Center has more office news for Austin-Round Rock:

​Source: CBRE​

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