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North Austin Building Fills Up as Market Stays Steady

AUSTIN-Four deals for 3,577 sf of neighborhood services cap availability at the 26,179-sf 9415 Burnet Rd. in the north submarket. The submarket bears a 21% vacancy, but the upside is that it hasn't gone up since the 2001 close.

By Tim Green | Updated on July 10, 2002

AUSTIN-Four deals, totaling 3,577 sf, have pushed a north submarket building to full occupancy. The tenants include two new businesses and a renewal at the 26,179-sf 9415 Burnet Rd. building.

The north submarket was stable in the first half of 2002, according to an early look at NAI/Commercial Industrial Properties Co.’s midyear market report. Renee Hicks, NAI/CIP office specialist, tells GlobeSt.com that the submarket’s vacancy rate was 21% at the end of June, the same as it was in December 2001. Rental rates, she says, are within 75 cents per sf of their December average, which was $21.34 per sf.

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