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Austin Office MARKETWATCH Report Is a Monthly Report Prepared by Transwestern That Tracks Market Statistics for the Austin MSA

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Austin Office MARKETWATCH Report Is a Monthly Report Prepared by Transwestern That Tracks Market Statistics for the Austin MSA REAL ESTATE OUTLOOK AUSTIN OFFICE MARKET WATCH JUNE 2017 Recent Office Leases OFFICE LEASE STATISTICS :: VACANCY & RENTAL RATE 25.0%25.0% $36.00$36.00 Northwest :: Hays Software (renew) GROSS RENT PSF ($) VACANCY (%) 11,110 SF at Riata Gateway 20.0%20.0% $32.00$32.00 Northwest :: Fathom Water Mgmt (subls) 15.0%15.0% $28.00 14,053 SF at Riata Corporate Park 7 $28.00 10.0%10.0% $24.00 CBD :: Dykema Gosset $24.00 5.0%5.0% 10,891 SF at One Eleven Congress 0.0% $20.00 0.0% QTD $20.00 10 11 12 13 14 15 16 17 Central :: Cobb Fendley & Assoc. 16,444 SF at Centennial Towers All office buildings larger than 25,000 SF excluding government, medical, user campuses and office condos. Office Sales Statistics Recent Office Sales AUSTIN AUSTIN U.S. TRAILING AUSTIN QUARTER TRAILING U.S. 12 MO. Q1 2017 TO DATE 12 MO. Q1 2017 Southwest :: Capital Ridge Volume ($ Mil) $2,842.3 $539.9 $123.5 $139,691 $28,758.5 320 S. Capital of Texas Highway No. of Properties 77 14 5 5,769 1,428 217,000 SF 7 story Class A office building Buyer: GLL Real Estate Partners Total SF 9,849,227 2,036,349 354,064 583,995,689 124,764,923 Seller: Miller Global JV Riverside Resources Average Price/SF $299 $341 $382 $253 $246 Average Cap Rate (Yield) 6.3% 5.4% N/A 6.6% 6.7% SOURCE: Real Capital Analytics Monthly Office Lease Statistics By Submarket NO. OF YTD NET YTD LEASING DIRECT TOTAL CLASS A CLASS B CLASS C AVE NET SUBMARKET BLDGS INVENTORY ABSORPTION ACTIVITY OCCUP. OCCUP. NET RENT NET RENT NET RENT RENT CBD 85 13,012,400 428,149 362,145 92.9% 91.7% $41.32 $28.82 $29.28 $36.85 Central & West Central 79 5,433,337 106 114,446 95.0% 94.5% $30.83 $19.86 $19.59 $22.65 North 67 7,046,571 315,923 104,676 93.6% 92.4% $29.03 $19.71 $14.92 $22.64 Northeast & East 72 5,790,570 314,829 297,979 87.0% 86.9% $25.99 $17.81 $15.83 $18.96 Northwest & Far NW 216 16,936,745 (143,272) 414,232 91.9% 89.7% $23.44 $19.18 $17.24 $21.52 Round Rock & Cedar Park 47 3,044,111 88,748 67,560 88.4% 87.9% $21.70 $19.61 $14.82 $19.97 South 41 2,835,600 (1,649) 84,415 93.6% 92.8% $23.00 $20.58 $14.66 $19.80 Southeast 21 2,365,372 (5,464) 562,657 90.2% 90.1% $17.50 $16.51 $15.65 $15.47 Southwest 134 11,274,737 429,276 409,129 91.1% 89.6% $25.35 $20.59 $17.54 $24.00 AUSTIN 762 67,739,443 1,426,646 2,417,239 91.8% 90.5% $29.58 $20.17 $18.36 $24.52 SOURCE: Transwestern, CoStar AUSTIN OFFICE MARKET WATCH JUNE 2017 About Transwestern Transwestern is a privately held, SSAE 16 compliant commercial real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com/austin and follow us on Twitter: @TranswesternATX. SEATTLE MINNEAPOLIS BOSTON DETROIT MILWAUKEE GREENWICH NEW YORK CHICAGO NEW JERSEY SAN FRANCISCO WALNUT CREEK SALT LAKE SILICON CITY BETHESDA BALTIMORE DENVER VALLEY WASHINGTON DC NORTHERN ST. LOUIS VIRGINIA LOS ANGELES OKLAHOMA ORANGE COUNTY CITY SAN DIEGO PHOENIX TRANSWESTERN ATLANTA FORT DALLAS WORTH LOCATIONS HOUSTON AUSTIN SAN ANTONIO NEW ORLEANS ORLANDO FORT LAUDERDALE MIAMI-DADE Austin Team Members Ty Puckett, Executive Vice President Development & Investment Sales (512) 314.3572 [email protected] Hale Umstattd, Executive Managing Director Investment Sales & Corp. Services (512) 314.3551 [email protected] Scott Myers, Managing Director Investment Sales (512) 314.3571 [email protected] Jeff Rogers, Managing Director Investment Sales - Multifamily (512) 314.5207 [email protected] Chris Stutzman, Managing Director Investment Sales - Multifamily (512) 314.5203 [email protected] Mike Brown, Senior Vice President Agency Leasing & Business Development (512) 314.3552 [email protected] Britt Reed, Senior Vice President Tenant Advisory (512) 314.3577 [email protected] Greg Johnson, Vice President Agency Leasing (512) 314.3570 [email protected] Luke Wheeler, Vice President Agency Leasing & Tenant Advisory (512) 314.3553 [email protected] Will Stewart, Vice President Agency Leasing & Tenant Advisory (512) 314.3574 [email protected] Brandon Lester, Vice President Agency Leasing & Tenant Advisory (512) 314.3576 [email protected] Stayton Wright, Vice President Tenant Advisory (512) 314.5205 [email protected] Josh Delk, Vice President Development & Investment Sales (512) 314.3557 [email protected] Nash Frisbie, Senior Associate Agency Leasing & Tenant Advisory (512) 314.5204 [email protected] Robert Gaston, Executive Vice President Southwest | Regional Leader (512) 314.3554 [email protected] Karen Judson, Vice President Marketing & Research (512) 314.3560 [email protected] CONTACT METHODOLOGY Karen Judson The information in this report is the result of a compilation of information on office properties located Vice President in the Austin metropolitan area. This report includes single-tenant and multi-tenant properties 25,000 512.328.5600 SF and larger, excluding condo and medical office facilities and those properties owned and occupied [email protected] by a government agency. Unless otherwise stated, the statistics in this report are monthly, meaning they reflect a ‘snapshot in time’ and are not cumulative. Net Absorption refers to the change in vacant space. Gross Leasing Activity refers to the change in available space, including renewals, new leases, expansions and subleases. 901 S MoPac Expressway, Suite 4-250 T 512.328.5600 F 512.328.9309 Austin, Texas 78746 www.transwestern.com/austin Copyright © 2017 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein. REAL ESTATE OUTLOOK AUSTIN OFFICE MARKET WATCH MAY 2017 Recent Office Leases OFFICE LEASE STATISTICS :: VACANCY & RENTAL RATE 25.0%25.0% $36.00$36.00 Northwest :: Indeed.com (renew) GROSS RENT PSF ($) VACANCY (%) 75,000 SF at Reserve at Bull Creek 20.0%20.0% $32.00$32.00 CBD :: LogicMonitor 15.0%15.0% $28.00 10,135 SF at 500 West 2nd $28.00 10.0%10.0% $24.00 Southwest :: Northwestern Mutual $24.00 5.0%5.0% 16,000 SF at 3700 San Clemente 0.0% $20.00 0.0% QTD $20.00 10 11 12 13 14 15 16 17 Southwest :: NSS Labs 23,000 SF at The Park on Barton Creek All office buildings larger than 25,000 SF excluding government, medical, user campuses and office condos. Office Sales Statistics Recent Office Sales AUSTIN AUSTIN U.S. TRAILING AUSTIN QUARTER TRAILING U.S. 12 MO. Q1 2017 TO DATE 12 MO. Q1 2017 Northeast :: Strictly Pediatrics Volume ($ Mil) $2,842.3 $539.9 $123.5 $139,913.8 $28,692.7 1301 Barbara Jordan Blvd No. of Properties 77 14 5 5,754 1,419 4-story medical office building 127,338 SF Buyer: Physicians Realty Trust Total SF 9,849,227 2,036,349 354,064 583,207,693 123,910,656 Seller: Strictly Pedicatrics Land Co., LLC Average Price/SF $299 $341 $382 $254 $248 Average Cap Rate (Yield) 6.3% 5.4% N/A 6.6% 6.7% SOURCE: Real Capital Analytics Monthly Office Lease Statistics By Submarket NO. OF YTD NET YTD LEASING DIRECT TOTAL CLASS A CLASS B CLASS C AVE NET SUBMARKET BLDGS INVENTORY ABSORPTION ACTIVITY OCCUP. OCCUP. NET RENT NET RENT NET RENT RENT CBD 83 12,707,222 119,180 324,454 92.7% 91.8% $41.32 $28.48 $26.66 $36.57 Central & West Central 79 5,433,337 (61,833) 102,157 93.9% 93.4% $30.68 $20.21 $19.58 $22.79 North 67 7,046,571 350,253 100,177 93.9% 92.9% $28.89 $19.99 $14.50 $22.76 Northeast & East 72 5,790,570 292,044 291,444 87.2% 86.5% $25.99 $17.51 $15.78 $18.74 Northwest & Far NW 216 16,936,745 (88,930) 366,226 91.8% 90.0% $23.45 $19.17 $17.47 $21.53 Round Rock & Cedar Park 46 3,014,111 24,656 46,770 87.2% 86.7% $21.50 $19.96 $14.55 $20.06 South 41 2,835,600 5,037 46,800 93.5% 93.0% $23.91 $19.24 $14.40 $19.29 Southeast 21 2,365,372 (11,921) 562,657 90.0% 89.8% $17.50 $16.51 $15.18 $15.35 Southwest 133 11,246,950 392,319 369,186 91.3% 89.5% $25.29 $20.22 $17.02 $23.86 AUSTIN 758 67,376,478 1,020,805 2,209,871 91.7% 90.5% $29.45 $20.08 $17.88 $24.38 SOURCE: Transwestern, CoStar AUSTIN OFFICE MARKET WATCH MAY 2017 About Transwestern Transwestern is a privately held, SSAE 16 compliant commercial real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability.
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