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Regional Summaries

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Austin, TX

Apartment
The 199,086-unit metro Austin apartment market didnÂ’t add as many units as expected in 2017, but the 6,410 added was enough to increase the vacancy rate 40 basis points over the year to 5.7%. The rate edged up 20 basis points in the fourth quarter and another 40 in January 2018, when another 1,072 units completed construction. The new projects hitting the market are charging high rents, and in 2017, the average asking rent increased 5.3% to $1,175 per month while the average effective rent rose a huge 6.4% to $1,099 per month. The fourth quarter gain, however, was just 0.4% by both measures, albeit followed by a gain of 0.5% by both measures in January 2018. VIEW APARTMENT LISTINGS >
Industrial
The 15.9-million-square-foot Austin Flex/R&D market had a positive year in 2017, as 116,200 square feet of new supply was more than offset by 196,000 square feet of net absorption and the vacancy rate fell 50 basis points to just 8.5%. The fourth quarter decrease was also 50 basis points. The average asking rent was up 4.1% over the year to $9.94 psf, with the average effective rent up 4.3% to $8.91 psf. The fourth quarter gains were 1.0% and 1.2%, respectively. The Flex/R&D market was quiet in January 2018, as the vacancy rate edged down 10 basis points and rents edged up 0.1% by both measures. The 35.6-million-square-foot Austin warehouse/distribution market got 754,000 square feet of new supply in 2017, and the vacancy rate increased 120 basis points over the year to 8.8%. It was down 20 in the fourth quarter, as no new projects completed. The average asking rent surged 4.2% over the year to $7.36 psf, with the average effective rent up 4.6% to $6.57 psf, including gains of 1.2% and 1.4% in the fourth quarter. January 2018 saw three buildings with 350,200 square feet in total complete, and the vacancy rate jumped to 9.7%. VIEW INDUSTRIAL LISTINGS >
Office
New supply continues to roll into the metro Austin general purpose, multi-tenant office market, with 1.7 million square feet of multi-tenant space added in 2017 including 247,000 square feet in the fourth quarter. Net absorption trailed at 1.26 million square feet, with 217,000 square feet for the quarter alone. The vacancy rate increased 40 basis points over the year to 12.9%. It was unchanged in the fourth quarter but down 10 basis points in January 2018. Rent gains imply a strong market despite a slightly higher vacancy rate. Average rents increased 3.8% by both measures in 2017 to $31.32 psf asking and $25.46 psf effective. The gain was 1.2% by both measures in the fourth quarter. Overall rents were flat in January 2018. VIEW OFFICE LISTINGS >
Retail
The 21.6-million-square-foot Austin community-neighborhood shopping center market was dormant in 2017, with just 35,000 square feet of new supply and 23,000 square feet of net absorption. The vacancy rate edged up 10 basis points over the year to just 5.5%, with a 20-basis-points gain in the fourth quarter on 43,000 square feet of negative net absorption. The average asking rent was up 3.1% over the year to $23.51 psf, with the average effective rent up 3.2% to $21.40 psf. The fourth quarter gains were 0.9% and 0.8%, respectively. The market picked up January 2018 as the 77,050-square-foot Oak Meadows Marketplace completed construction in Georgetown. The vacancy rate increased 20 basis points, and rents were flat. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

The U.S. Gulf Coast & Its Vital Interstate-10 Corridor

CBC Infographics

Shopping In-store vs. Online Shopping

The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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