Q1 2017 Austin Office Research & Forecast Report
Austin’s office market looks forward to a year full of deliveries
The Austin office market saw a continued “leveling out” of
both activity and rates in the first quarter of 2017. The average
vacancy rates increased to 11.4% from 11.1%, fueled in part by new
construction delivering with vacancy. Despite the additional space,
and a slight rise to vacancy rates, gross asking rents ticked slightly
upward from $33.17 to $33.25. Landlords and the money behind
them clearly remain bullish on commercial real estate in Austin.
Our local experts continue to see a significant level of sublease
space hitting the market as companies right-size and continue to
position themselves in less heavy traffic corridors (i.e. a flight to
the core or to a specific location central to existing workforce). Of
the nearly 800,000 SF of office space currently listed for sublease,
approximately...click here to visit our website and view the complete report.