Austin’s office market sees a slight increase in vacancy as additional space delivers in 2015

Research & Forecast Report

AUSTIN | OFFICEQ2 2015

Hannah Tysor Senior Marketing & Research Coordinator | Houston & Austin

Class A rental rates in Austin’s CBD decreased by 2.5% over the quarter and vacancy increased slightly for the third consecutive quarter as office space continues to deliver.

Six buildings totaling 730K square feet were delivered in the second quarter, and 2.2M square feet of office space is currently under construction. Among the projects delivered in Q2 include Capital Ridge, a 217K square foot office development in southwest Austin that is fully leased by Apple, Inc. San Clemente At Davenport also delivered in Q2 and remains only 38.1% leased to Spiceworks, Inc.

The citywide average rental rate increased by 3.7% from $28.16 per SF to $29.20 per SF over the quarter. The average CBD Class A rental rate decreased from $42.64 per SF to $41.58 per SF, and the average suburban Class A rental rate increased from $31.54 per SF in Q1 to $32.87 per SF.

According to the Texas Workforce Commission, the job growth rate has remained positive for 60 consecutive months in Texas despite a slow down in 2014. According to a recent article in Forbes magazine, Austin’s technology job base has expanded by 17.8% since 2011, benefitting from the relocation of California based companies to Central Texas. Austin’s unemployment rate fell to 3.1% from 4.1% over the year, remaining lower than both the national average and state average.

Austin has unseated Silicon Valley as the No. 1 city in the U.S. for startups, claiming 180 startup businesses, according to the latest annual Kauffman Index report. Texas cities Houston and San Antonio also claimed spots in the top 10.

Vacancy & Availability

Austin’s citywide vacancy rate increased 20 basis points from 10.2% to 10.4% between quarters, continuing its gradual increase since Q3 of 2014. Despite an overall increase, vacancy in the CBD decreased by 60 basis points from 8.2% to 7.6%. Overall suburban vacancy increased 30 basis points from 10.7% to 11.0% due primarily to a large increase in Class A suburban office vacancy of 100 basis points.

Summary Statistics Austin Office Market Q2 2014 Q1 2015 Q2 2015

Vacancy Rate 10.7% 10.2% 10.4%

Net Absorption (Million Square Feet) .253 .616 .480

New Construction (Million Square Feet) .178 1.069 .730

Under Construction (Million Square Feet) 2.195 2.385 2.223

Class A Vacancy Rate CBD Suburban

14.3%10.4%

10.5%10.8%

10.8%11.6%

Asking Rents Per Square Foot Per Year

Average $27.26 $28.16 $29.20

CBD Class A $40.02 $42.64 $41.58

Suburban Class A $30.96 $31.54 $32.87

Market IndicatorsRelative to prior period

AnnualChange

Quarterly Change

Quarterly Forecast*

VACANCY

NET ABSORPTION

NEW CONSTRUCTION

UNDER CONSTRUCTION

*Projected

2 Austin Research & Forecast Report | Q2 2015 | Office | Colliers International

The average CBD Class A vacancy rate increased slightly between quarters from 10.5% to 10.8%. The average CBD Class B vacancy rate decreased by 90 basis points over the quarter bringing it to an all time low of 2.1%. The average suburban Class A vacancy rate increased by 100 basis points from 10.6% last quarter to 11.6% and the average suburban Class B vacancy rate increased from 11.5% to 11.7%.

The citywide Class A vacancy rate increased 70 basis points over the quarter from 10.7% to 11.4%.

Absorption, New Supply & Vacancy Rates

Absorption & Demand

Austin’s office market posted 480,277 SF of positive net absorption in Q2 2015, majority of which occurred in the Southwest submarket with the delivery of Capital Ridge, Apple, Inc.’s new headquarters. The Southwest submarket posted the largest gain, with 214,758 SF of positive net absorption.

The North submarket posted 74,545 SF of positive net absorption followed closely by the Far Northwest submarket which posted 72,807 SF of positive net absorption due to new leases and expansions at Aspen Lake and 7700 W. Parmer Lane, where Google, Inc. signed a new lease for 63,965 SF in Q2.

The largest negative absorption this quarter occurred in the Northeast submarket.

Rental Rates

The citywide average rental rate increased by 3.6% from $28.16 per SF to $29.20 per SF over the quarter. The average citywide Class A rental rate increased by 2.4% from $33.94 per SF to $34.77 per SF. Class B rental rates also increased over the quarter by more than 6.0%, rising to $24.42 per SF in Q2 2015.

In the CBD, Class A rental rates decreased over the quarter from $42.64 per SF to $41.58 per SF. Conversely, Class B rental rates in the CBD increased by 4.7% over the quarter from $33.93 per SF to $35.52 per SF.

The average suburban Class A rental rates increased over the quarter from $31.54 per SF to $32.87 SF.

The highest average quoted rental rate this quarter was the West Central submarket’s Class A office properties at $41.77 per SF in Q2.

Job Growth & Unemployment(not seasonly adjusted)

UNEMPLOYMENT 05/14 05/15

AUSTIN 4.1% 3.1%

TEXAS 5.0% 4.1%

U.S. 6.1% 5.3%

JOB GROWTHAnnual Change

# of Jobs Added

AUSTIN 2.5% 32.2K

TEXAS 2.5% 287K

U.S. 2.2% 3.1M

CBD vs. SuburbanCLASS A OFFICE VACANCY

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

CBD VS. SuburbanClass A Office Vacancy

CBD Vacancy Suburban Vacancy

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

$41.00

$43.00

Class A Office Rents

CBD Rents Suburban Rents

CLASS A OFFICE RENTS

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

$41.00

$43.00

Class A Office Rents

CBD Rents Suburban Rents

33 Austin Research & Forecast Report | Q2 2015 | Office | Colliers International

Q2 2015 Top Office Lease TransactionsBUILDING NAME/ADDRESS SUBMARKET SF TENANT LEASE DATE

Capital Ridge Southwest 217,490 Apple, Inc. 15-Apr

Aspen Lake One Far Northwest 128,336 Q2ebanking2 15-Apr

The Summit at Lantana Southwest 117,886 SolarWinds 15-Apr

7700 W Parmer Lane Far Northwest 63,965 Google 15-May

3100 Alvin Devane Blvd - Bldg A Southeast 32,500 Younicos AG 15-Apr

9500 Arboretum Blvd Northwest 27,642 Rockwell Automation1 15-Apr

1703 W. 5th St. West Central 27,149 Snow Software3 15-Apr

9111 Research Blvd North 24,759 Mike Chang Fitness 15-Apr

Research Park Plaza IV Northwest 23,379 Site Stuff, Inc. 15-May

816 Congress CBD 21,610 AllClear ID, Inc. 15-Jun

Seaholm Power Plant Building CBD 20,000 Umbel Corp.3 15-May

Leasing ActivityAustin’s office leasing activity recorded 1.9M SF in Q2 2015. Major transactions this quarter included new leases for Apple, Inc. who will take 217,490 SF at Capital Ridge, and SolarWinds, with 117,886 SF in The Summit at Lantana.

1 Renewal 2 Expansion3 Sublease4 Pre-lease/proposed or under construction

Q2 2015 Significant Sales Transactions – (100,000 SF or greater)BUILDING NAME SUBMARKET RBA (SF) YEAR BUILT BUYER SELLER SALE PRICE $/SF CLOSED

Riata Corporate Park Northwest 688,432 1998-2000 Accesso Partners Spear Street Capital Undisclosed Un-disclosed

15-Jun

CityView Center & Setting Complex

Southwest 282,106 1997/1985

Dividend Capital Pearlmark Real Estate Partners

$68,800,000 $244 15-Apr

Scarbrough Building & Littlefield Office Building

CBD 233,463 1910 David Kahn DivcoWest $84,046,680 $360 15-Jun

Arboretum Atrium & Las Cimas I

Northwest/Southwest

173,870 1984/1998

Wedge Group Mohr & Associates $45,500,000 $261 15-Jun

Perry Brooks Building CBD 127,975 1954 Clarion Partners Barton Creek Capital Undisclosed Un-disclosed

15-Apr

Sales ActivityAustin’s office investment sales activity included five sales transactions (including three portfolio sales) with an average sale price of $277 per SF.

Sources: CoStar and Real Capital Analytics

CITY TO WATCH

Unseating Silicon Valley, Austin has moved up to be the No. 1 U.S. city for startups according to the latest Kauffman Index report which measures entrepreneurship at a national, state and metropolitan level.

4 Austin Research & Forecast Report | Q2 2015 | Office | Colliers International

Austin Office Market Summary (CBD, Suburban, & Overall)

INVENTORY DIRECT VACANCY SUBLEASE VACANCY VACANCY VACANCY RATE (%) NET ABSORPTION

(SF)RENTAL

RATE

CLASS # OF BLDGS. TOTAL (SF) (SF) RATE

(%) (SF) RATE (%)

TOTAL (SF) Q2-2015 Q1-2015 Q2-2015 Q1-2015 AVG

($/SF)

CBD

A 29 7,260,706 751,963 10.4% 31,756 0.4% 783,719 10.8% 10.5% 13,713 424,186 $41.58

B 68 3,955,001 80,506 2.0% 2,571 0.1% 83,077 2.1% 3.0% 47,119 -1,980 $32.52

C 30 1,112,130 50,988 4.6% 15009 1.3% 65,997 5.9% 11.1% -10,605 -94,663 $24.01

Total 127 12,327,837 883,457 7.2% 49,336 0.4% 932,793 7.6% 8.2% 50,227 327,543 $39.83

SUBURBAN

A 195 23,967,668 2,399,200 10.0% 373,426 1.6% 2,772,626 11.6% 10.6% 434,272 109,030 $32.87

B 722 29,183,612 3,216,388 11.0% 208,028 0.7% 3,424,416 11.7% 11.5% -42,372 223,210 $23.90

C 213 7,102,591 429,468 6.0% 2,763 0.0% 432,231 6.1% 6.6% 38,150 -43,709 $18.54

Total 1,130 60,253,871 6,045,056 10.0% 584,217 1.0% 6,629,273 11.0% 10.7% 430,050 288,531 $27.55

OVERALL

A 224 31,228,374 3,151,163 10.1% 405,182 1.3% 3,556,345 11.4% 10.7% 447,985 533,216 $33.99

B 790 33,138,613 3,296,894 9.9% 210,599 0.6% 3,507,493 10.6% 10.5% 4,747 221,230 $25.12

C 243 8,214,721 480,456 5.8% 17,772 0.2% 498,228 6.1% 7.3% 27,545 -138,372 $18.88

Total 1,257 72,581,708 6,928,513 9.5% 633,553 0.9% 7,562,066 10.4% 10.2% 480,277 616,704 $29.20

INVENTORY DIRECT VACANCY SUBLEASE VACANCY VACANCY VACANCY RATE (%) NET ABSORPTION

(SF)RENTAL

RATE

CLASS # OF BLDGS. TOTAL (SF) (SF) RATE

(%) (SF) RATE (%)

TOTAL (SF) Q2-2015 Q1-2015 Q2-2015 Q1-2015 AVG

($/SF)

BASTROP COUNTY

A 1 35,000 4,000 11.4% 0 0.0% 4,000 11.4% 11.4% 0 0 $28.45

B 5 73,163 0 0.0% 0 0.0% 0 0.0% 4.4% 3,200 0 $15.51

C 1 12,740 0 0.0% 0 0.0% 0 0.0% 0.0% 0 0 $16.00

Total 7 120,903 4,000 3.3% 0 0.0% 4,000 3.3% 6.0% 3,200 0 $22.70

CEDAR PARK

A 2 232,274 14,723 6.3% 0 0.0% 14,723 6.3% 15.9% 22,135 6,612 $32.07

B 21 511,522 15,762 3.1% 0 0.0% 15,762 3.1% 3.3% 1,300 3,672 $25.77

C 2 30,601 0 0.0% 0 0.0% 0 0.0% 0.0% 0 0 -

Total 25 774,397 30,485 3.9% 0 0.0% 30,485 3.9% 7.0% 23,435 10,284 $28.06

CENTRAL

A 4 540,156 81,735 15.1% 0 0.0% 81,735 15.1% 15.8% 3,769 25,741 $34.36

B 49 2,255,027 255,311 11.3% 3,979 0.2% 259,290 11.5% 11.1% -9,891 13,200 $22.81

C 46 1,601,271 48,577 3.0% 2,763 0.2% 51,340 3.2% 4.1% 13,534 1,918 $18.69

Total 99 4,396,454 385,623 8.8% 6,742 0.2% 392,365 8.9% 9.1% 7,412 40,859 $23.78

EAST

A 2 104,821 0 0.0% 0 0.0% 0 0.0% 0.0% 0 0 -

B 34 2,155,068 920,026 42.7% 0 0.0% 920,026 42.7% 42.8% 1,612 -30,062 $20.06

C 14 362,001 56,050 15.5% 0 0.0% 56,050 15.5% 18.9% 12,517 -12,517 $20.26

Total 50 2,621,890 976,076 37.2% 0 0.0% 976,076 37.2% 37.8% 14,129 -42,579 $20.07

FAR NORTHEASTd d

B 5 88,268 15,681 17.8% 0 0.0% 15,681 17.8% 18.5% 667 0 $22.39

C 3 147,843 2,202 1.5% 0 0.0% 2,202 1.5% 1.5% 0 -700 $13.50

Total 8 236,111 17,883 7.6% 0 0.0% 17,883 7.6% 7.9% 667 -700 $21.91

Austin Suburban Office Market Summary

5 Austin Research & Forecast Report | Q2 2015 | Office | Colliers International

Austin Suburban Office Market Summary - Continued

INVENTORY DIRECT VACANCY SUBLEASE VACANCY VACANCY VACANCY RATE (%) NET ABSORPTION

(SF)RENTAL

RATE

CLASS # OF BLDGS.

TOTAL (SF) (SF) RATE

(%) (SF) RATE (%)

TOTAL (SF) Q2-2015 Q1-2015 Q2-2015 Q1-2015 AVG

($/SF)

FAR NORTHWEST A 15 2,208,498 444,203 20.1% 65,947 3.0% 510,150 23.1% 26.2% 68,681 -8,671 $29.32B 31 1,348,983 46,118 3.4% 0 0.0% 46,118 3.4% 3.7% 4,126 10,355 $22.02C 5 91,076 4,800 5.3% 0 0.0% 4,800 5.3% 5.3% 0 0 $14.48Total 51 3,648,557 495,121 13.6% 65,947 1.8% 561,068 15.4% 17.4% 72,807 1,684 $28.23GEORGETOWNB 16 712,175 15,534 2.2% 0 0.0% 15,534 2.2% 2.2% 0 0 $26.72C 6 97,188 1,260 1.3% 0 0.0% 1,260 1.3% 1.3% 0 0 $18.87Total 22 809,363 16,794 2.1% 0 0.0% 16,794 2.1% 2.1% 0 0 $23.90HAYS COUNTY A 1 22,000 200 0.9% 0 0.0% 200 0.9% 22.7% 4800 0 $19.56B 19 513,022 43,917 8.6% 0 0.0% 43,917 8.6% 8.6% 0 0 $16.18C 10 156,584 10,808 6.9% 0 0.0% 10,808 6.9% 6.9% 0 -1,000 $16.96Total 30 691,606 54,925 7.9% 0 0.0% 54,925 7.9% 8.6% 4,800 -1,000 $16.33NORTHA 12 1,665,073 271,167 16.3% 17,122 1.0% 288,289 17.3% 21.0% 60,714 41,853 $31.29B 64 4,414,352 187,795 4.3% 73,751 1.7% 261,546 5.9% 6.3% 18,028 137,932 $22.96C 14 363,411 61,318 16.9% 0 0.0% 61,318 16.9% 15.7% -4,197 0 $17.39Total 90 6,442,836 520,280 8.1% 90,873 1.4% 611,153 9.5% 10.6% 74,545 179,785 $25.12NORTHEASTA 4 503,753 12,263 2.4% 0 0.0% 12,263 2.4% 2.4% 0 3,743 $20.55B 37 2,132,832 176,650 8.3% 31,850 1.5% 208,500 9.8% 8.6% -25,446 -18,108 $19.22C 26 869,806 197,200 22.7% 0 0.0% 197,200 22.7% 21.3% -12,175 -29,235 $16.44Total 67 3,506,391 386,113 11.0% 31,850 0.9% 417,963 11.9% 10.8% -37,621 -43,600 $18.12NORTHWESTA 80 8,027,602 596,659 7.4% 93,869 1.2% 690,528 8.6% 9.5% 73,055 98,766 $32.21B 152 5,556,481 663,157 11.9% 90,939 1.6% 754,096 13.6% 12.9% -37,767 53,535 $28.37C 15 1,298,936 2,113 0.2% 0 0.0% 2,113 0.2% 0.1% -1,313 339 $24.68Total 247 14,883,019 1,261,929 8.5% 184,808 1.2% 1,446,737 9.7% 9.9% 33,975 157,640 $30.47ROUND ROCKA 10 2,045,595 21,000 1.0% 0 0.0% 21,000 1.0% 0.2% -17,121 1,905 $18.00B 38 1,001,711 56,686 5.7% 0 0.0% 56,686 5.7% 5.6% -221 -484 $20.75C 10 267,208 1,836 0.7% 0 0.0% 1,836 0.7% 0.7% 0 0 $16.43Total 58 3,314,514 79,522 2.4% 0 0.0% 79,522 2.4% 1.9% -17,342 1,421 $20.39SOUTHA 22 2,961,070 199,641 6.7% 4,189 0.1% 203,830 6.9% 7.8% 27,060 53,768 $36.39B 47 1,742,772 74,576 4.3% 3,861 0.2% 78,437 4.5% 3.7% -14,566 32,098 $29.01C 25 1,035,622 16,350 1.6% 0 0.0% 16,350 1.6% 1.6% 514 5,241 $23.60

Total 94 5,739,464 290,567 5.1% 8,050 0.1% 298,617 5.2% 5.4% 13,008 91,107 $33.73

SOUTHEAST

B 20 2,238,247 498,587 22.3% 0 0.0% 498,587 22.3% 23.1% 18,360 -3,494 $19.98

C 10 319,571 10,063 3.1% 0 0.0% 10,063 3.1% 3.1% 0 13,475 $15.34

Total 30 2,557,818 508,650 19.9% 0 0.0% 508,650 19.9% 20.6% 18,360 9,981 $19.79

6 Austin Research & Forecast Report | Q2 2015 | Office | Colliers International

Austin Suburban Office Market Summary - Continued

INVENTORY DIRECT VACANCY SUBLEASE VACANCY VACANCY VACANCY RATE (%) NET ABSORPTION

(SF)RENTAL

RATE

CLASS # OF BLDGS.

TOTAL (SF) (SF) RATE

(%) (SF) RATE (%)

TOTAL (SF) Q2-2015 Q1-2015 Q2-2015 Q1-2015 AVG

($/SF)

SOUTHWESTA 39 5,152,823 736,566 14.3% 93,523 1.8% 830,089 16.1% 7.5% 195,668 -33,422 $34.74B 169 4,110,198 227,116 5.5% 3,648 0.1% 230,764 5.6% 4.9% -2,925 22,070 $26.44C 22 365,437 15,844 4.3% 0 0.0% 15,844 4.3% 10.4% 22,015 -21,195 $25.31Total 230 9,628,458 979,526 10.2% 97,171 1.0% 1,076,697 11.2% 6.4% 214,758 -32,547 $32.50WEST CENTRALA 3 469,003 17,043 3.6% 98,776 21.1% 115,819 24.7% 23.7% -4,489 -81,265 $41.77B 15 329,791 19,472 5.9% 0 0.0% 19,472 5.9% 6.3% 1,151 -2,504 $35.15C 4 83,296 1,047 1.3% 0 0.0% 1,047 1.3% 10.0% 7,255 -35 $27.22

Total 22 882,090 37,562 4.3% 98,776 11.2% 136,338 15.5% 15.9% 3,917 -83,804 $37.84

Office Development PipelineMore than 2.2 million square feet of office space was under construction during Q2 2015. Major buildings that delivered over the quarter include San Clemente At Davenport, and Capital Ridge. Capital Ridge is 100% leased to Apple, Inc.

BUILDING NAME ADDRESS SUBMARKET SF PRE-LEASED DEVELOPER EST.

DELIVERY

Green Water Treament Plant 500 W 2nd St CBD 489,404 42.5% Trammel Crow Co Mar-16

Parmer 3.2 13101 McCallen Pass Dr Northeast 192,000 0.0% Trammel Crow Co Sep-15

5th & Colorado 201 W 5th St CBD 179,846 9.5% Lincoln Property Company Mar-16

Research Park Plaza Bldg V 12301 Research Blvd Northwest 171,500 0.0% Cousins Properties Incorporated

Nov-15

Lamar Central 3800 N Lamar Blvd West Central 168,752 28.1% Highland Resources, Inc. Sep-15

Encino Trace 2 5707 Southwest Pky Southwest 158,137 0.0% Koontz McCombs Jul-15

Rollingwood Center Bldg 1 2500 Bee Caves Rd Southwest 147,900 100.0% Endeavor Real Estate Group Aug-15

Quarry Oaks III 10901 Stonelake Blvd Northwest 140,000 100.0% Riverside Resources Dec-15

Quarry Oaks 10901 Stonelake Blvd Northwest 137,615 100.0% Riverside Resources Dec-15

Aspen Lake Two 13785 US-183 Far Northwest 128,700 100.0% Patrinely Group Nov-15

317 Grace Ln 317 Grace Ln Southwest 87,748 2.5% Equitable Commercial Realty Dec-16

Domain 5 2901 Esperanza Crossing North 74,804 0.0% Endeavor Real Estate Group Dec-15

Rollingwood Center Bldg 2 2500 Bee Caves Rd Southwest 69,150 100.0% Endeavor Real Estate Group Sep-15

1303 San Antonio St 1303 San Antonio St CBD 54,442 48.1% Unknown Jul-15

NorthShore 110 San Antonio St CBD 23,592 100.0% Trammel Crow Co Oct-15

7 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International

Copyright © 2015 Colliers International.The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.

Colliers International | Market000 Address, Suite # 000 Address, Suite #+1 000 000 0000colliers.com/<<market>>

7 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International

Copyright © 2015 Colliers International.The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.

Colliers International | Austin515 Congress Avenue, Suite 1700 Austin, Texas 78701+1 512 539 3000colliers.com/texas/austin

FOR MORE INFORMATIONHannah TysorSenior Marketing & Research Coordinator | Houston & Austin+1 713 830 2192hannah.tysor@colliers.com

QUOTED GROSS RENTAL RATES FOR EXISTING TOP PERFORMING OFFICE BUILDINGS

BUILDING NAME ADDRESS SUBMARKET RBA (SF) YEAR BUILT

% LEASED

AVAIL. SF

RENT ($/SF) OWNER

Frost Bank Tower 401 Congress Ave. CBD 535,078 2003 90.50% 62,513 $54.00 Parkway Properties, Inc.

One Congress Plaza 200 Cesar Chavez CBD 518,385 1985 83.30% 123,419 $44.26 Parkway Properties, Inc

300 West Sixth 300 W. 6th Street CBD 454,225 2001 98.60% 6,494 $49.17 Parkway Properties, Inc.

301 Congress 301 Congress Ave. CBD 418,338 1986 87.80% 77,807 $46.55 National Office Partners, LP

100 Congress 100 Congress Ave. CBD 411,536 1987 94.10% 45,161 $50.64 Metlife, Inc.

San Jacinto Center 98 San Jacinto Blvd. CBD 410,248 1987 88.20% 85,421 $46.71 Parkway Properties, Inc.

7700 W Parmer Ln - Bldg. B

7700 W Parmer Ln - Bldg. B Far Northwest 350,000 1999 74.30% 90,000 $34.22 Speer Street Capital

7700 W. Parmer Ln - Bldg. C

7700 W Parmer Ln. - Bldg. C Far Northwest 282,000 1999 82.30% 98,000 $33.83 Speer Street Capital

UFCU Plaza 8303 N. Mopac Expy Central 246,869 1987 89.80% 25,161 $32.15 University Federal Credit Union

Note: Avail. SF includes direct and sublet space as well as any future available space listed. Source: CoStar Property

deliveredinventory

743k sf

13 28.

Up from 177k SF at Q2 2014

10.4%Current Vacancy

480,277 SFCurrent Net Absorption

2.2M SF72.6 Million SF

TOTAL OFFICE INVENTORY

Class A (43%) Class B (46%) Class C (11%)

31.2M SF33.1M SF

8.2M SF

Q2 2015 Highlights