Aug 02

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Q2 2019 Austin Office Market

Tech Companies Fuel Growth

Austin skyline from Ladybird Lake
  • 528,811 square feet (sf) of positive net absorption
  • Most absorption came from Class B buildings with 430,300 square feet of positive net absorption
  • Q3 2019 is forecasted for Offices at Saltillo to deliver. Totals 150,000 sf and is 100% leased to Google.
  • Biggest new construction delivery in Q2 was SXSW Center in CBD at 140,000 sf and is 94% leased by large tenants including WeWork and SXSW.
  • Average rental rate including expenses stands at $35.74/sf up from $35.55/sf in Q1 2019 and $34.37 in Q2 2018.
  • Vacancy is down to 9.5% from 10.3 in Q1.
  • Class A CBD rental rates are at $52.78/sf and suburban Class A space is at $37.97/sf.
  • 5.29 million sf are currently under construction.

Colliers Q2 Austin Office Report

Permanent link to this article: https://atxre.com/q2-2019-austin-office-market/

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