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Austin Brokers Busy With Lateral Activity

AUSTIN-Bread-and-butter deals are keeping Austin brokers busy in what is described as the start of a return to more normal market conditions. Class B tenants are trading up for nicer buildings, but not necessarily more space.

By Tim Green | Updated on February 11, 2002

AUSTIN-The city’s office brokers are busier. They are fielding more e-mails from prospective tenants, conducting more showings and working up more lease proposals. Is this activity the prelude to an improving office market? Maybe, but not necessarily so.

While there are no firm measures of activity, several brokers surveyed by GlobeSt.com say that business has picked up. “It’s unbelievable,” says Roy Scruggs, the leasing director of CarrAmerica Realty Corp.’s Austin office. “I’m as busy as I can be.”

Kevin Granger, a senior vice president in Trammell Crow Co.’s Austin office, agrees. “There are a lot more tenants looking around. The fourth quarter was extremely slow.”Derek Silva, an office specialist at NAI/Commercial Industrial Properties Co., says he saw an increase starting in mid-December. He attributes some of that to companies looking to close lease deals by the end of the year. But, he says, the activity has continued into 2002.

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