texas office market review mid year 2010
DESCRIPTION
Texas Office Market Review Mid-Year 2010TRANSCRIPT
Accelerating success.
Texas Office Market ReviewMid-Year 2010
Texas Office Market Review
2
Austin Dallas
Houston San Antonio
Unemployment Rate (June 2010)
3
Austin San Antonio Dallas-FW Houston United States0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
7.4% 7.7%8.5% 8.8%
9.5%
Market Snapshot
4
Market Total InventorySquare Feet
Vacancy Rate
Q1- 2010Net Absorption
Square Feet
Q2 -2010Net Absorption
Square Feet
12 month TotalNet Absorption
Square Feet
Austin 79,855,000 14.8% (182,000) 584,000 877,000
Dallas 303,105,000 18.8% (797,000) 18,000 (534,000)
Houston 195,840,000 16.5% 200,000 (316,000) (335,056)
San Antonio 63,299,000 10.6% 231,000 136,000 1,207,000
Market Snapshot
5
Market Total Inventory
Square Feet
VacancyRate
Class AInventory
Square Feet
Class AVacancy Rate
Class AAverage AnnualQuoted Rents
Central Business District
Austin 79,855,000 14.8% 7,377,000 11.3% $34.47
Dallas 37,129,000 26.3% 22,606,000 23.3% $25.30
Houston 195,840,000 16.5% 27,806,000 9.0% $35.90
San Antonio 63,299,000 10.6% 1,884,000 15.1% $20.89
Suburban Markets
Austin 65,920,000 15.9% 23,820,000 21.5% $26.37
Dallas 265,976,000 17.7% 96,196,000 19.1% $24.80
Houston 157,940,000 17.1% 68,602,000 19.6% $27.40
San Antonio 53,408,000 10.0% 8,156,000 15.3% $21.28
Total Inventory
6
Dallas-FW Houston Austin San Antonio -
50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
300,000,000
350,000,000 303,105,000
195,840,000
79,855,000
63,299,000
Total Office Inventory by Market (Square Feet)
Square Feet
Vacancy Rates
7
San Antonio Austin Houston Dallas-FW0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
10.6%
14.8%
16.5%
18.8%
Total Vacancy Rate by Market
Vacancy Rate
Class A Rental Rates
8Houston Austin Dallas-FW San Antonio
$-
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
$35.00
$40.00 $35.90 $34.47
$25.30
$20.89
$27.40 $26.37
$24.80
$21.28
CBDSuburban
Class A Rental Rates (CBD / Suburban) by Market
Net Absorption
9
Historical Net Absorption by Market: Q3-09 to Q2-10
Square FeetQ3 09 Q4 09 1Q 10 2Q 10
(800,000)
(600,000)
(400,000)
(200,000)
-
200,000
400,000
600,000
800,000
AustinDallas-FWHouston San Antonio
Net Absorption
10
Net Absorption by Market (Square Feet)
Austin Dallas-FW Houston San Antonio (600,000)
(400,000)
(200,000)
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
877,000
(534,000)
(335,056)
1,207,000
12 month Total Q3-09 thru 2Q-10
11
Coy Davidson
Senior Vice President
Houston Office
Direct: 713.830.2128
www.coydavidson.com
Collies International1300 Post Oak Boulevard, Suite 200Houston, Texas 77056www.colliers.com