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Neighboring Cities Office Markets Like Night and Day

AUSTIN-Holliday Fenoglio Fowler's latest office market reports for Austin and San Antonio make the neighboring cities' futures look like night and day. Austin has lost ground while San Antonio has gained in the ups and downs of the national economy.

By Connie Gore | Updated on July 05, 2001

AUSTIN-What Austin has lost, San Antonio has gained, according to the latest office market reports by Dallas-based Holliday Fenoglio Fowler LP’s research department.

It could be classified as an “apples to oranges” comparison when it comes to the two cities, but their proximity warrants it. In separate Q1 city reports that have just been released, Holliday Fenoglio Fowler predicts the Austin office market will struggle or remain flat until 2003 whereas San Antonio, which has a long-standing back seat to other Texas metropolises, is making moderate strides in line with the national economy. San Antonio, say researchers, will pick up even more in late 2001 or early 2002. It has escaped negative absorption, unlike Austin or even Dallas.

“An expanding economy, combined with a slowdown in speculative office construction and diminishing blocks of available second-generation space bode well for improving market conditions going forward,” the report predicts for San Antonio. Austin’s suburban market, say researchers Ed Frieze and Hannah Wier, will take 18 to 24 months to recover from the crippling blow of excess space, primarily due to record-high sublease counts.

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