Austin Office Market
| Average Asking Rent (Price/SF) | $36.36 |
| Vacancy Rate (%) | 17.1% |
| Net Absorption (SF) | -401,268 |
Austin and much of the Texas economy began to see limited benefits of the strong COVID vaccine roll out during the first quarter of 2021. As the state begins to slowly and smartly re-open, the office market in Austin during the quarter did not yet see the same positive bumps as the overall economy. However, several smaller slivers of positive news denote confidence that the bottom of the downturn has been reached and the remainder of 2021 and into 2022 will see more positive office market metrics.
Download Austin Office Market Report 1Q20Austin Industrial Market
| Average Asking Rent (Price/SF) | $11.45 |
| Vacancy Rate (%) | 6.8% |
| Net Absorption (SF) | 517,062 |
Austin’s industrial sector started to emerge from the COVID downturn in the first quarter of 2021, as the market reaches to meet the needs of the growing workforce, population and commercial tenants. The high level of continued interest in the region, burgeoning population and increasing development allow the market to be well poised to meet consumer demands, especially in the distribution and cold storage sectors as rooftops continue to expand in the region and allows the Austin industrial market to see 2021 as a year of positive metrics in the market.
Download Austin Industrial Market Report 1Q21 Download 3Q20 Austin Multifamily Market Update 3Q20