Austin and Dallas are currently the only two major markets with positive office using employment growth year over year. These markets have however seen available sublease space increase significantly since April.
The asking Average Full Service Listing rate for Austin was $42.63/SF/Year as compared to the National average of $38.11/SF/Year
The asking Average Full Listing rate has increased 5% over the last 12 months, compared to the national average of .6%.
Total vacancy in Austin is at 11% compared to a national average of 13.4%.
Compared to Dallas that currently has a $27.80/SF/Year Average Full Service Listing rate, down -3.4% over the last year and with a vacancy rate of 17.4%.
Over 7 million square feet of office space are currently under construction in Austin, almost 10% of the total stock.