Austin office market improves modestly

Austin office space demand is still high in most parts of town however the North and Northeast submarkets are still struggling a bit.  According to a report from Marcus and Millichap the vacancy rate in Cedar Park, Round Rock, and Georgetown is around 41% where as in the rest of the Austin metro area office space vacancy rates are 15% to 20%.  Overall, demand is high for office space in Austin.  Average office lease rates in the Austin Metro area are $25 to $26 sf.

Austin office market improves modestly |

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