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December 2008
State of the Central Texas Commercial Real Estate Market
The Central Texas office market ended the third quarter of 2008 with a vacancy rate of approximately of 12.6 percent versus 11.6 percent at the end of the second quarter. Nationally, office vacancy rates are running a little under 12 percent, meaning Austin is approximately 0.6 to 0.7 percent higher than the national average. Subleases are on the upswing.
Based on your being referred to us, we moved forward with our search for a new, fresh office space with your diligent assistance. Knowing our needs were needed quickly, you moved forward with great haste to defer our paying the holdover provision set forth in our old lease. Your timely process allowed us to reduce our costs in a beautifully appointed environment. I look forward to our continued relations.