Downtown Austin Office Space


Downtown Austin Office Space

For 2016, downtown Austin office space is a tighter commodity than it was in the past. Because of the population and demand on commercial real estate vacancies in the sub-markets within Austin have gotten tighter. With that being said, there are no office properties being delivered to sustain the demand that is currently on offices.  In the downtown Austin office market,there is approximately 9.9M SF of total space of which the vacancy rate currently is below 8% as of September 2016.

Office Space Layouts and Lease RatesDowntown Austin Shire Commercial

There are 2 major classes of downtown Austin office spaces – Class A and Class B. Class A makes up most of the square footage of office properties in downtown Austin. Within the makeup of  Class A availability, the vacancy rate is closer to 7.5% coming into September 2016. Class B offices have a slightly higher vacancy rate. As far as lease rates, a tenant should expect to pay a premium currently for both Class A and Class B in the central business district. On top of lease rates, always factor in parking which can be up to0  $100 plus a month per vehicle for covered private parking.

 

 

Class A Lease Rates                                                                                      Class B Lease Rates

$47.00 per square foot per yr                                                                               $38.00 per square foot per year