Austin, TX Office Space for Lease or Sale | Warehouse Properties
Best follow up for Commercial Real Estate since 2004
Current Vacancy Rates End of Q3 2024
Currently UP 24.3 %
Sublease an Office Space
If you are looking for Austin office space for lease, you are at the right website. Providing Clients results and finding Austin office space for lease since 2004 are the direct benefits of utilizing our leasing services. With Shire Commercial’s office space leasing services you can find value deals in Austin’s commercial real estate market. Offices less than 1,500 SF “may” a balance 2-3 yr term for us to to be able to help our clients. Regarding commercial rental rates, do not expect below market lease rates when vacancies are lower. Subleases change month to month and quarter to quarter. See the latest stats in our market news below on this page.
Office Condos | Office Property for Sale
Would you like to purchase an Office Condo or an Austin Office property? All of our buyer-clients receive:
- Efficient first class response that includes market surveys with Shire Commercial office condos for sale services in Austin.
- Utilization of our market knowledge that helps you make the best offer on an Austin Office Condo or Building.
- 100% support includes recommending lenders , current interest rates, negotiation support, market comps and more, see what is available within this page
List your Austin office property for Sale-contact us
Are you currently looking to sell your office condo or Austin office property? Shire Commercial has provided listing services for Sellers since 2004 to help them sell their office condo or office properties.
Austin Office Properties for Rent
Our services help tenants find better deals
How do you know a commercial real estate broker can perform and provide you great service? Service is action, not words, wouldn’t you agree? Find Austin office properties for rent with a birds-eye view of what is going on with lease rates for commercial real estate in Austin. By tracking Austin office lease rates, we can provide our Clients with real time accurate information. The next step? Team up with Shire Commercial to provide You a list of offices for rent so that you can save a lot of time and hassle running around needlessly. Updated consistently to ensure our surveys are accurate for you to view. Contact us today to help you lease or sublease an office space.
Gross Lease Rates Class A Avg $56
Current Sublease Activity 20%
Shire Commercial | Quick News for Austin Office Sublease Listings in Austin Moving Downward Q2 2024 Slight positive net occupancy at the end of Q2 2024 Samsung confirms $17B chip plant to be built in Taylor Texas- Willamson County Higher interest rates will slow purchases along with inflated asking prices. Cost of money affecting CRE purchases Highest Vacancies in NW, South, SE, N and NE $100M Solar Plant Project Slated for Georgetown Warehouse Leasing vacancy rates increase to 8.7% Q2 2024 Tesla Surpases HEB as biggest employer in Austin Avg Warehouse rates just over $13 psf into Q2 2024
AUSTIN OFFICE PROPERTIES FOR RENT & SALE NEWS BRIEF
Current Office Leasing and Sales News
Q3 2024: Office vacancies in Austin increase, while subleasing decreases. Avg lease rates for Class office up +$0.15
Q2 2024: No significant decrease in vacancy rates, yet avg gross lease rates increased to $48.37 psf per yr.
Q1 2024: Office Sublease activity on the downtrend , lease rates elevated slightly in Q1.
Q4 2023 : Year end-0ffice vacancies increase more now 23% with sublease activity increasing up 2.3%. Outlook is not positive near term. Lease rates drop $0.19. 1.2M SF of new office delivered in 2023.
Market Demand and Construction
Q3 2024: Stalled construction no new groundbreakings, more inventory for sale into Q4 2024
Meta subleasing their Downtown Austin Space, increases in subleasing adding 1.5M square feet
New construction is halted at the end of Q1 2024, new new construction started
More sublease offices pushes Austin market down approx 8%
The Austin office property market continues to be down overall. We are seeing less sublease offices in specific sub-markets tracking 800-5,000SF. In today’s market desirable office spaces with lower lease rates from $1.30 psf per month to $1.50 are still available .
**Office Leasing Stats Nationally: Leasing activity is down -53% ** for 2020.
Commercial Office Property Vacancy -Absorption Overview
Vacancies are near 24% at the end of the first quarter of 2024.
Average office building occupancy overall is 58% at the end of March 2024
Landlord Overview | Office Property
Smaller square footage office properties; may involve shorter lease terms in 2023. Rental rates in specific sub-markets have moved upward. Within the CBD sub-market; leasing rates are not moving downward; If a term is less than 3 yrs, there may or may not be a base rent increase. Not surprisingly, Sublease office availability is scaling upwards in 2023. As a comparison, Commercial Real Estate in Austin overall for the year 2019, was robust.
Previous Years | Office Statistics
According to Realtor magazine, here are some stats: “How many square feet of office can a tenant get for $5000 per month (Class B)”? Austin 1,288 SF , Houston 2,304 SF , Dallas 2,630 SF.