Commercial Real Estate in Texas
This content provides detailed insights into the commercial real estate markets in Texas, focusing on major cities such as Austin, Dallas, Houston, and San Antonio. It covers key statistics on office and industrial properties, vacancy rates, net absorption, rental rates, and market outlooks, highlighting factors driving demand and upcoming developments.
Uploaded on Feb 23, 2025 | 0 Views
Download Presentation

Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Commercial Real Estate in Texas Rick Whiteley Executive Director Cushman & Wakefield Austin April 20, 2017
Major Market Office Overviews Austin Dallas Houston San Antonio 49,331,666 10,156,470 39,175,196 3,442,898 195,235,873 26,830,365 168,405,508 33,151,962 17.0% 6,544,802 26,607,160 903,909 185,088,637 37,342,720 147,745,917 40,832,619 22.1% 6,508,141 34,324,478 10,799,758 31,453,58 Inventory (SF) CBD Suburban Direct Vacant (SF) 7.0% Direct Vacancy Rate 539,040 2,903,858 608,541 1.2% 90,839 517,702 CBD Suburban Sublet Vacant (SF) 0.5% 86,098 817,811 5.8% Sublet Vacancy Rate 2,291,069 8,508,689 CBD Suburban 4,051,439 34,055,871 51,632,377 Total Available 8.2% 17.5% 27.9% 12.1% Total Vacancy Rate 2.1 Million 3.1 Million (1.8 Million) 1.1 Million Net Absorption (SF) 2016 2.5 Million 6.5 Million 696,908 596,000 Under Construction $36.95 $31.35 $37.32 $24.38 Current Class A Rate 2
Major Market Industrial Overviews Austin Dallas Houston San Antonio 46 Million 464 Million 407 Million 39 Million Inventory (SF) 6.4% 6.6% 7.1% 9.6% Vacancy Rate 611,005 16.5 Million 6.5 Million 521,000 Net Absorption (SF) 2016 Under Construction (SF) 840,565 15.5 Million 2.5 Million 1.2 Million 2016 Avg Rental Rate (WH/Distribution) $6.92 $4.13 $6.05 $5.00 3
Market Outlooks Dallas Austin San Antonio Houston DFW posted the fastest job growth of all major metro areas in U.S. to end 2016 Increased job growth & low unemployment Demand is still strong especially for high end office space Recovery is underway, but will not occur quickly; Energy sector still holding back recovery CBD activity strong; New Frost Bank Tower, 462k SF, Q1 2019; CPS Energy (electric utility) bought two dormant office buildings downtown to serve as HQ (+400k SF) Tech & software companies continue to migrate to Austin 7 Million SF of office product under construction and 41% of it is pre-leased Sublet space hounding office market; Over 10 Million SF available citywide Industrial deliveries finally catching up with demand Demand still high in both office & industrial Construction starts limited until backlog of space is absorbed. CBD activity strong; - 500 W 2nd 489k SF, Q3 2017 - Shoal Creek Walk 218k SF, Q4 2017 - Westview 100k SF, Q4 2017 CBD buildings being converted to apartments on the CBD west side 4