Austin Texas Economy
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COLLEGE STATION (Real Estate Center) - Texas nonfarm employment rose 2.3
percent from February 2007 to February 2008 compared with the less than 1
percent annual growth rate of nonfarm employment for the United States as a
whole.
The state’s seasonally adjusted unemployment rate fell from 4.5 percent in
February 2007 to 4.1 percent in February 2008.
Higher oil prices continue to help the state’s oil and natural gas industry.
The state’s mining industry ranked first in job creation, followed by the
leisure and hospitality industry, construction, professional and business
services, and education and health services industry.
All Texas metro areas except Beaumont-Port Arthur experienced positive
February-to-February employment growth rates. Odessa ranked first in job
creation followed by Midland, Waco, Houston-Sugar Land-Baytown, and
Longview. Midland had the lowest unemployment rate February 2008 followed by
Odessa, Amarillo, Lubbock, and College Station-Bryan.
Click here to view the report. <http://recenter.tamu.edu/econ/>
chadjewell @ April 7, 2008
Austin Office Vacancy Rate
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Here is a blurb about the office market that originally appeared in the Austin American-Statesman. This article accurately tells what is going on.
AUSTIN (Austin American-Statesman) - Vacancies are rising in the Austin
office market and are expected to continue ticking up amid a glut of new
space and heightened caution among tenants who are wary of the […]
chadjewell @ April 7, 2008
Austin Office Lease Rates
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The new rate quoted by Austin’s premier Class A building downtown, Frost Bank Tower, is $27 + $15.90 NNN = $42.90 per square foot per year! Just to bring this into perspective… you would spending about $12,870 per person per year on rent and that doesn’t even include parking!
The average B Class suburban office building […]
chadjewell @ March 4, 2008
Location: Austin Office Space
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I just read a E-mail newsletter that was talking about business blind spots and ran across this one: “4. location.
Yesterday’s right location is tomorrow’s wrong one. Has the future arrived and left you behind in a weird part of town? Or did you fall into the happy trap of cheap rent only to find yourself […]
chadjewell @ March 3, 2008
Austin Office Market Status
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It has started! We just got wind of the first price drop in one newly constructed, speculative office development in northwest Austin. The project is dropping their quoted price $2.00. All the brokers here at Austin Office Space have been expecting this drop to happen for a while now. With all the new projects […]
chadjewell @ February 18, 2008
office space for lease austin
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1. Market Knowledge
An experienced office tenant rep. broker knows the market rates, trends, landlords and can guide you to the best deal.
2. Experience
Knowing how the lease process works can save a lot of time and headaches. A good office broker will know what deals can be made and how to avoid potential pitfalls during the […]
chadjewell @ February 10, 2008
office space for lease austin
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The residential market in Austin is certainly not something we are involved with but it often is one of the indicators that people watch in regards to the economy.
January 27-February 2, 2008
This week there are 10,185 active residential listings compared to 7,640 in the same week a year ago. (33% increase)
New listings up 57%
Pending sales […]
chadjewell @ February 10, 2008
office space for lease austin
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This is a really cool link to an interactive map of central Austin, Texas showing all the condo developments that have been announced.
http://www.urbanaustin.org
Do we growth rate to absorb all of these? How many projects will actually get built?
chadjewell @ December 4, 2007
office space for lease austin
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National Real Estate Expert Touts Austin
KXAN NEWS
Updated 8:30 p.m. CT, Fri., Nov. 30, 2007
As real estate markets across the country report record numbers of foreclosures, national real estate experts said there’s still money to be made in Austin.
Now may be the time to look towards up-and-coming neighborhoods, such as South Congress. Friday on The Today […]
chadjewell @ December 4, 2007
Austin Office Market Status
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Q3– 2007
The Austin office market is appreciating rapidly. Rates are approaching 6 year highs with more increases on the horizon. The tenant friendly environment we enjoyed in the wake of the tech bust is but a distant memory now. Landlords are back in the driver seat.
The office market had a very healthy […]
chadjewell @ November 29, 2007
