The strength of top markets–including Midtown Manhattan and Dallas–was offset by significant negative absorption elsewhere. Out of the 87 office markets tracked by Cushman & Wakefield in the third quarter, 27 markets posted a combined total of 5.3 million square feet of negative absorption, a third more than the 3.4 million square feet of negative absorption recorded in the second quarter. Markets with significant square footage under construction include Dallas/Fort Worth with 6.3 million square feet. Indeed, building in DFW continues at a frenzied pace.—Lisa Brown
NEWS AND NOTABLES
AUSTIN, TX—More than 100 volunteers from the Real Estate Council of Austin convened at Sammy's House last month to renovate interior and exterior spaces at Saint Louise House, a local nonprofit organization that provides transitional housing and programs for homeless women and children. For more than six months, RECA's Christmas in October Committee developed detailed renovation plans, fundraised, and gathered the necessary tools and machinery for the big day. The committee successfully raised more than $126,000 in both monetary and in-kind donations for the project.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
