Net absorption for the overall Austin office market was positive 346,906 square feet in the second quarter 2011. That compares to positive 326,857 square feet in the first quarter 2011, positive 346,440 square feet in the fourth quarter 2010, and positive 280,836 square feet in the third quarter 2010.
Tenants moving out of large blocks of space in 2011 include: Cirrus Logic, Inc. moving out of 196,718 square feet at The Terrace VI; Computer Sciences Corporation is moving out of 187,383 square feet at 200 W Cesar Chavez St; and Powered, Inc. moving out of 24,460 square feet at Capitol Tower.
Tenants moving into large blocks of space in 2011 include: Fulbright & Jaworski L.L.P. moving into 73,225 square feet at San Jacinto Center; and Trident Microsystems, Inc. moving into 71,502 square feet at 9500 Arboretum Blvd.
The Class-A office market recorded net absorption of positive 49,364 square feet in the second quarter 2011, compared to negative (10,075) square feet in the first quarter 2011, positive 252,453 in the fourth quarter 2010, and positive 254,892 in the third quarter 2010.
The Class-B office market recorded net absorption of positive 330,723 square feet in the second quarter 2011, compared to positive 320,813 square feet in the first quarter 2011, positive 102,704 in the fourth quarter 2010, and positive 112,189 in the third quarter 2010.
The Class-C office market recorded net absorption of negative (33,181) square feet in the second quarter 2011 compared to positive 16,119 square feet in the first quarter 2011, negative (8,717) in the fourth quarter 2010, and negative (86,245) in the third quarter 2010.
Net absorption for Austin’s central business district was negative (7,035) square feet in the second quarter 2011. That compares to negative (157) square feet in the first quarter 2011, negative (49,907) in the fourth quarter 2010, and negative (12,274) in the third quarter 2010.
Net absorption for the suburban markets was positive 353,941 square feet in the second quarter 2011. That compares to positive 327,014 square feet in first quarter 2011, positive 396,347 in the fourth quarter 2010, and positive 293,110 in the third quarter 2010.
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