Athena FAQs

How do I search for comps? What does it mean that a lease comp is active?
How do I input comps? What type of data do we use in our quarterly report numbers?
How do I report an error? What is included in our “citywide” numbers?
How do I find averages? Where do our average base rent numbers come from?
How do I create a collection?  What is Direct Vacant SF?
How do I share a collection?  What is Sublease Vacant SF?
What is a dynamic list? What is Sublease Available SF?
How is the net effective base rate calculated? What is Direct Available SF?
Why can’t I save a comp? How do we calculate the Direct & Sublease Vacancy Rate?
What is an “incomplete” comp? How do we calculate absorption?
What is an “estimated” comp?  

 

How do I search for comps?

Select the type of comp you want to search for with the drop-down menu in the search bar. You can choose between, lease, land sale, building sale or buildout comps. You can then use the filters to narrow your search.

How do I input comps?

In the top right corner, you will see an “+Add” button. Click here then select the type of comp you want to input. In order to save a comp, you must include information in each of the “required fields (the fields with red bars).

How do I report an error?

When you are on a specific comp’s page, you will see this symbol. Select this and write an email to the appropriate person, explaining what you think the error is.

How do I find averages?

To find averages across multiple comps, you’ll first need to do a search to find the comps you are interested in. You can then click the checkbox on two or more comps and averages will be calculated automatically at the bottom of your screen.

How do I create a collection?

To make a collection, first select the comps you want to add to the collection by doing a search and clicking the checkboxes for each comp. Then select “add to collection” and then select “add new list”. Once you’ve created the list you can add the comps to it.

How do I share a collection?

To share a collection, go to the “my collections” tab. You can then share a collection with a link or by downloading to Excel.

What is a dynamic list?

A dynamic list allows you to save specific search criteria. This is especially helpful if you do the same search on a regular basis. To create a dynamic list, do the search you would like to perform and then select “add to dynamic list”. You can access the dynamic lists you have created through the “my collections” tab.

How is the net effective base rate calculated?

The net effective base rate is the average base rate over the term of the lease minus the value of the tenant improvement allowance over the term of the lease.

Total Average Base Rate = [TI Allowance per SF / Months of Term) x 12]

Why can’t I save a comp?

To save a comp you need to have a value in each of the “required” fields (these are the fields with red bars). Make sure you have the appropriate data in each field. If you are still unable to save, contact the market research team.

What is an “incomplete” comp?

An “incomplete” comp means the comp is missing information. While the comp has enough information to be saved, it may not include all the financial and deal-specific information you might expect to see.

What is an “estimated” comp?

An “estimated” comp means at least one of the comp’s values was estimated. Execution dates and operating expenses are commonly estimated when those values are not available.

What does it mean that a lease comp is active?

An “active” lease comp means the lease’s expiration date has not passed. For example, if today is January 1, 2020, and a comp’s expiration date is July 2022, it will show as “active”.

 

Quarterly Report FAQ

What type of data do we use in our quarterly report numbers?

All data in this report is based on class A & B office buildings with a minimum of 10,000 rentable square feet, not owner-occupied and not medical office. Data is pulled at the end of each quarter.

What is included in our “citywide” numbers?

Based on existing class A & B office buildings within our data guidelines located in the Austin – Round Rock MSA.

Where do our average base rent numbers come from?

The weighted average quoted base rental rate across a given set. Collected through CoStar and quarterly market surveys.

What is Direct Vacant SF?

Space that is currently vacant and is listed for lease by the landlord. If the space is not occupied, then it is vacant. In instances where a tenant has pre-leased a space but has yet to move in, that space will remain classified as vacant until move in occurs. Collected from CoStar.

What is Sublease Vacant SF?

The same as Direct Vacant SF, except that the space is listed for sublease by an existing tenant rather than directly by the landlord. Collected from CoStar.

What is Sublease Available SF?

Space that is currently available for sublease, regardless of whether it is vacant or still occupied. A “vacant” space is always “available”, but an “available” space is not always “vacant”. Because many subleases are listed while the existing tenant is still occupying the space, this number gives a better idea of total sublease availability in the market. Collected from CoStar.

What is Direct Available SF?

Same as Sublease Available SF, but for direct space.

How do we calculate the Direct & Sublease Vacancy Rate?

(Direct Vacant SF + Sublease Vacant SF) / (Net Rentable Area)

How do we calculate absorption?

(NRA2  Direct Vacant SF2  Sublease Vacant SF2)  (NR1  Direct Vacant SF1 Sublease Vacant SF1)