Austin Office Market Q3 2019

Austin Office Market Q3 2019 | Summary report

Austin’s office market Q3 2019 continues to see strong demand moving into the 4th quarter of 2019.  Vacancy rates have gone up approx 1% point, however it is a bit skewed due to a large company vacating their campus adding over 1M square feet of space to office inventory available.  Austin is set up to have a banner year for offices , lease rates have climbed to highs of just under $39.00 per square foot overall.  Lower lease rate deals are still available.

New office market deliveries for Q3 2019 remain a bit light, three new projects added an additional 240K square feet of office space.

Austin Commercial Office Space for Lease 5,000-10,0000+SF

Office Market Lease Rates for Q3 2019

  • Full Service Lease rates increased over $1.00 per square foot to just under $40 psf per yr.
  • NNN Expenses climbed to approx $11 per square foot per year, up +$0.22 cents per square foot per month
  • 3 New office properties were built and pre-leased, 50% of the office construction has been pre-leased in Austin.