The submarket had grown to 4.6 million sf at year-end 2000, up 206% from the 1.5 million sf of two years ago. And, the report, notes there's another 1.6 million sf under construction. In other words, the equivalent of the entire market in 1998 will be added to the market. By the end of this year, the entire market will boast 6.5 million sf. Today, that would make it the region's third largest submarket, falling right behind the southeast corridor and the CBD.
According to the report, there are no blocks larger than 20,000 sf available along the southwest corridor, except for three short-term subleases that range in size from 25,000 sf to 47,000 sf. The report also notes that four multi-story office buildings had been completed in last quarter 2000 for a total of 392,852 sf. All had been fully leased by completion. The submarket's triple net rates range from $17.50 per sf to $21 per sf for class-A properties and $15.50 per sf to $17.50 per sf for class-B space, according to the report
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
