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Austin Office Space Tight, Pre-Leasing Robust

AUSTIN—The citywide vacancy rate has tightened to 9.7% in the Austin-area office market.

By Anna Caplan | Updated on July 30, 2014

AUSTIN—The citywide vacancy rate has tightened to 9.7% in the Austin-area office market. “Things are really heating up,” says Doug McGregor, senior office consultant at REOC Austin.

The local office market has seen new leases and expansions generating 306,517 square feet of positive net absorption in the second quarter which raised the year-to-date total gain to nearly 636,000 square feet, according to the survey of more than 41.7 million square feet of Austin-area office lease space.

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Assessment

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