DATE: June 7, 2007
PUBLICATION: Austin American-Statesman (TX)
EDITION: Final
SECTION: Business
PAGE: D04
The office market in the Austin area has been rebounding for the past three years,
after a slump in 2003.
That observation is backed up by looking at figures for net absorption, the real
estate term for the change in physically occupied space.
It
is based on adding the number of square feet newly occupied and subtracting the
total amount of space vacated in the same period. Pre-leasing activity is not
included in the calculations.
(BOX)
Year
Absorption in square feet 2000 3,300,000 2001 75,000 2002 200.000 2003
-1,250,000 2004 1,000,000 2005 520,000 2006 1,163,000
Source:
NAI Commercial Industrial Properties Co.