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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.
With all available options presented to us, we were able to substantiate the best alternative for our 24 / 7 computer center.Our search began with twenty-seven (27) properties.With specific electrical generation and backup needs, and your pinpointing more precise locations aided our strategy in finding and negotiating a long term lease.Your continued hard work paid great savings to us.Thanks again.