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Kim Gatley
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enior Vice President & Director of Research at REOC Austin

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REOC Austin releases 4Q 2013 office market update

Austin-area office properties turned in another strong performance in the final quarter of the year to close out 2013 on a high note.  According to the survey of more than 41.6 million square feet of office space, new leases and expansions generated 269,356 square feet of positive net absorption in the fourth quarter.

Combined with the gains logged earlier in the year, fourth quarter activity pushed the annual total absorption figure over the one million mark to 1,071,129 square feet.  In turn, the positive absorption tightened the citywide vacancy rate to 11.3% – a level not seen since 2007.

“Over the past two years, tenant demand for office space has steadily filled former “see- …Read Entire Post

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REOC Austin releases 4Q 2013 industrial market report

The Austin industrial market closed out 2013 with a citywide vacancy rate of 10.6%, according to the fourth quarter survey of more than 37.4 million square feet of industrial lease space conducted by REOC Austin.  “With few new developments constructed over the past several years, an expanding economy and steady tenant demand for space has tightened vacancy to its lowest point in twelve years,” says Mark Milstead, Vice President Industrial Services, REOC Austin, locally-based commercial real estate company.

Tenant move-ins recorded between the first of October and the end of December generated 340,541 square feet of positive net absorption within Austin-area industrial properties.  The fourth quarter gain raised the year-end absorption total to nearly 1.1 million square feet.  “The 2013 performance marks the fourth-consecutive year of …Read Entire Post