50 YEARS OF EXPERIENCE
Guiding you through every step of the office leasing and buying process.
FREE, GUARANTEED SERVICE
Free for tenants and buyers. Let us show you how.
We’re on your side, helping you find and negotiate the best office space for you.
Austin Office Space - Your Commercial Real Estate Firm
Specializing in tenant representation: locating available office spaces, negotiating leases and renewals, subleasing office space and buying office buildings.
State Of The Market
Austin office market did well in 2012 with 1.5 Million SF of positive absorption in the first three quarters. Vacancy citywide was 11.1% at the end of Q3, which is much improved from the 15% vacancy rates seen during the recession. Several large transactions were announced at the end of the year, including GM and Visa, which will fill several vacant buildings and improve these numbers even more when fourth quarter stats are compiled.
Tenants experienced an increase in office space costs in 2012 due the pullback on free rent and other leasing incentives during the recession, however, average rental rates held pretty steady ending the third quarter at $25.52 per SF. The lack of new construction and influx of big corporate users have contributed greatly to our tightening market. The number of good options is shrinking and the “perfect space” is becoming more elusive. In our experience, Landlords seem bullish about the Austin market and are not negotiating as much to win deals.
We predict more upward movement on rates and occupancy in 2013 and suggest that clients start office space searches and negotiation very early to get the best results in Austin’s competitive environment.