One thing Austinites love about their city is a truly well-rounded lifestyle – all the urban luxuries with plenty of outdoor spaces to hike, run, and play. It’s just a quick bike ride from hot cultural spots (like The Bob Bullock Texas State History Museum and the Blanton Museum of Art) to nearby parks and trails (like Pease Park and Lady Bird Lake Trail).
Situated between The Drag & Guadalupe Street and I-35, The University of Texas brings talent from around the world, contributing to the uniquely diverse community of Central Austin. With established neighborhoods like Hyde Park, Clarksville, and Terrytown, it’s not difficult to find charming homes in which to live. However, expect to pay more for housing as the median home price is $311,000. Though, you may find it worth the price to be within close proximity to downtown and access to great shopping and dining along Lamar Street.
With over 600 retail buildings providing more than 9 million SF for business, Central Austin is a great location to set up an Austin retail location. Depending on your needs, this area offers a variety of freestanding and retail center spaces, and even spaces within mixed-use communities like The Triangle. The average leasing price for retail space in the area is about $17 SF.
If you’re hoping to relocate your office to this highly desirable area, you can find average leasing rates of $20 SF, more competitive than downtown office space prices. Expect top prices around $29 SF for class A spaces, while class B and C is $19 and $18 SF respectively. There are 360 buildings in which to find your new office space.
Compared to other areas of Austin, expect fewer options for industrial spaces. Central Austin office space encompasses just over 100 buildings making up about 2.3 million SF of space. Average leasing rates are $7 SF.
Area and Community Info
As the city continues to grow, spaces around Central Austin change and adapt, especially the East Side (just east of I-35 near downtown) and around West Campus (west of The University of Texas where much student housing is located). Both of these areas have seen increases in residential and retail spaces in the past year or so.