LEASING AN AUSTIN OFFICE
What does a tenant need to know so they find an Austin rent space that is beneficial to their business? There are quite a few sub-markets in the Austin area. They consist mainly of areas defined as North, Northwest, Northcentral, East, CBD-downtown, Southeast, Southwest, South, Far South, and Northeast. Each area of Austin’s office rent spaces has different volumes of office space as well as different lease rates, operating expenses and vacancies.
These play into how we must negotiate an office property solution. Along with market knowledge, there are questions regarding what are reasonable lease rates, operating expenses and improvement allowances. When a tenant represents themselves, they take on the responsibility of knowing everything a broker would know
Unless you are a commercial real estate broker working day in and day out then knowing most of the key points is difficult. When Shire Commercial represents you as a client, your interests come first not the landlord’s or the listing agents perspective.
Rent Space Tidbits
According to the latest reports for 2018, the most expensive Class B office space within the major cities of Texas is Austin. Per the report in Realtor magazine the following stats were indicated:
Which Texas City has the most expensive office space? How much will $5000 per month get a tenant in square footage?
- Austin 1,288 SF
- Houston 2,304 SF
- Dallas 2,630 SF
- San Antonio 2,840 SF
Rent Space in Austin
Negotiating an rent space and executing a lease takes knowledge.
It comes in the form of market awareness, direct experience and the know-how on how to make negotiations happen. Shire Commercial has been providing tenant representation services since 2004 for clients seeking Austin renting commercial space in the Central Texas area. As a tenant, it is important to know what to ask and understand what is reasonable versus unreasonable. From lease rates, to operating expenses and finish out allowance and lease language all of these elements and more come to fore-front when negotiating an office lease.
Class A, Class B and Class C rent spaces all have their own metrics within in their respective sub-markets. You can release the burden of looking, negotiating and working on deals when you ask Shire Commercial to represent you directly.