Austin Office Space Market Growing in Suburbs

According to the Real Estate Center at Texas A&M Austin office space continues to get leased up at a rapid pace thanks to the strong job growth in the Austin, Tx Metro area.  This is especially evident in Austin's suburban office areas where over 200,00 sf of office space has been absorbed in 2013 so far.   Vacancy rates citywide in Austin are currently 11.8% while in the downtown office market vacancy rates are 10.3%.  In the suburbs vacancy rates are 12.2%.

As always as vacancy rates continue to decrease office rental rates are increasing.  Citywide average quoted lease rates are over $25 sf, Class A over $31 sf, and Class B over $23 sf.https://www.austintenantadvisors.com/blog/ic-manage-moves-to-larger-austin-office-space/

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