Finding Tenants the best Rental Rates
How do you know a commercial real estate broker can perform and provide you great service? Service is action, not word
s, wouldn’t you agree? Check this page out if you want to have a birds-eye view of what is going on with lease rates for office space in Austin. By tracking Austin, TX office lease rates , we can provide our Clients with real time accurate information. The next step? Team up with Shire Commercial to provide You the necessary actions it takes to find a a commercial property for lease or sale so that you can save a lot of time and hassle running around needlessly. Contact us today.
Research Office Lease Rates Below
Q1 2024 vacancy increases 0.8%
Q4 2023 vacancy overall increases another 2% now at 23%
Q3 2023: Increases in vacancy 21.7, Sublease vacancy higher 28.5%
Q2 2023: No change from Q1
Q1 2023: 21% Vacancy up
Q4 2022 19% Vacancy slightly down
Q3 2022: Vacancy rates rise , overall at 21%
Vacancies for office space are still hovering at the 21% range. . Vacancy has ticked higher in Q3 2023. Highest office vacancies are NE, NW and East
You can check more detailed vacancy rates below. As a comparison, vacancies back in Q4 2015 overall were 9.6%. There are specific Austin office properties that have a very tight supply such as Downtown, NW Austin, Far NW Austin and South Austin vacancies have ticked lower a bit. Vacancies as a comparison for Q3 2018 were at 10% for Class A office and 10.8% for Class B space.
On this page you will get a market snapshot of the quarterly Austin, TX office lease rates. The data is accurate within a 90 day period, data is provided in arrears , lease rates do not change by a large percentage over one quarter., however these are “active lease rates” that we track. Where are these offices located? That is where a broker with knowledge and experience brings value to You as the Client! Call us so we can help you find and negotiate an office lease or purchase.
| Sub Market | Office "Gross" lease rates overall in arrears by quarter. Reporting |
|---|---|
| Overall Average | $56 Class A $37 Class B |
| Class A Downtown NW -Arboretum Far Northwest | Class A $68.00 $47.00 $39.00 |
| Central South Southwest East Northeast North | $36.00 $42.00 $41.00 $53.00 $28.50 $36.00 |
Vacancy of Austin Office Property- Q1 2024
Latest Office Occupancy Levels | Vacancies are posted 1 quarter in arrears
Downtown 25% | East 33% | Far Northwest 24% | North East 39% | Central 23 % | Northwest 24% | Far NW 23% South 22% | Southwest 17% | Southeast 14%
Take advantage of great Austin office leasing services now.
Contact us today for more information and a no obligation analysis of what the office leasing possibilities are for your business.
How to calculate your monthly rent? Use the following formula:
Square footage per yr divide by 12 X the square footage of the office.
Example: $12.00 per SF per Yr /12 = $1.00 X 1,000 SF (office) = $1,000 per month for your rent.