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Austin Sublease Rises; Outlook Remains Positive

AUSTIN-Buls Hodge says another 469,000 sf of office space has been added to its biweekly sublease count. The extra space, though, can't take away the positive signs measured in second-quarter analyses by other brokerage firms.

By Connie Gore | Updated on August 19, 2002

AUSTIN-Another 469,000 sf of office sublease space has come to market in Austin to push the bottom line to 3.56 million sf, says Buls Hodge Consulting. Still, the extra space can’t usurp a second-quarter close that tracked the first positive absorption in three quarters, as recorded by CB Richard Ellis’ team in Austin.

The CBRE count pegged absorption at 85,573 sf, a showing attributable to several large pre-leases in the southwest submarket. It’s a bright spot and a definite start, albeit a small one, in a market bearing a 6% unemployment rate and continued angst in its high-tech and semiconductor sectors.

Buls Hodge is taking part of the blame for the extra space. It said the sublease space came on the market recently, but just now made it into the database.

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