{"id":79,"date":"2013-11-07T06:48:26","date_gmt":"2013-11-07T14:48:26","guid":{"rendered":"http:\/\/www.officefinder.com\/officeblog\/?p=79"},"modified":"2016-04-29T10:02:02","modified_gmt":"2016-04-29T17:02:02","slug":"austin-office-space","status":"publish","type":"post","link":"https:\/\/www.officefinder.com\/officeblog\/austin-office-space\/","title":{"rendered":"Austin Office Space Market Conditions"},"content":{"rendered":"

As the capital of Texas, Austin is the second largest state capital in the United States, and the fourth largest city in Texas.\u00a0 Located in central Texas, Austin became the capital city in 1838, when it was moved from its original location of Houston.<\/p>\n

Citizens of Austin, known as Austinites, enjoy a diverse lifestyle, culture, and liberal political environment amidst the more conservative leanings of Texas, as a whole.\u00a0 This has earned them the sarcastic label \u201cPeople\u2019s Republic of Austin.\u201d\u00a0\u00a0 Environmentally conscious citizens of Austin are resistant to rapid growth and irresponsible development, opting to \u201cKeep Austin Weird.\u201d<\/p>\n

Austin\u2019s official slogan is The Live Music Capital of the World.\u00a0 The city is host to many live music events and festivals, producing the longest-running concert music television program in America, Austin City Limits.\u00a0 Many a musician has launched their career in Austin, including Willie Nelson, Janis Joplin, Robert Plant, and Stevie Ray Vaughan.<\/p>\n

Besides it\u2019s eclectic music and arts scene, Austin\u00a0 is home to many museums and theatres.\u00a0 The city itself has been the location of many Hollywood films, such as The Texas Chainsaw Massacre, Dazed and Confused, and Office Space.<\/p>\n

Home of the University of Texas at Austin, the city developed into an economic center for technology and business in the 1980\u2019s.\u00a0 Several Fortune 500 companies have headquart offices here, including Dell (located in the suburb of Round Rock), Apple, eBay, Texas Instruments, and Whole Foods Market.\u00a0 As the headquarters for many technology corporations, Austin was nicknamed \u201cSilicon Hills\u201d in the 90\u2019s.\u00a0 With a steady stream of engineering and computer science graduates from the university, and lower housing costs than San Francisco\u2019s Silicon Valley, Austin is considered a high tech mecca.<\/p>\n

Presently the Austin office space market conditions suggest that the market is beginning to rebound.\u00a0 In August 2013, Austin topped Forbes\u2019 list for job growth.\u00a0 Citywide, office space vacancies dropped, although asking office rental rates continued upward.\u00a0 Below are the third quarter office market statistics as reported in CBRE Research, Q3 2013<\/i>.<\/p>\n

See also Austin Office Market Information<\/a>.<\/p>\n

<\/p>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n

Austin Office Sub-Market<\/span><\/b><\/span><\/p>\n<\/td>\n

\n

Vacancy Rate<\/span><\/b><\/p>\n<\/td>\n

\n

Net Absorption
\n(SQ FT)<\/span><\/b><\/p>\n<\/td>\n

\n

Avg. Rental Rate<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

CBD<\/span><\/p>\n<\/td>\n

\n

12.1%<\/span><\/p>\n<\/td>\n

\n

-16,192<\/span><\/p>\n<\/td>\n

\n

Class A – $41.39
\nClass B – $31.26<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Northwest<\/span><\/p>\n<\/td>\n

\n

11%<\/span><\/p>\n<\/td>\n

\n

27,314<\/span><\/p>\n<\/td>\n

\n

Class A – $29.09
\nClass B – $24.25<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Far Northwest<\/span><\/p>\n<\/td>\n

\n

14%<\/span><\/p>\n<\/td>\n

\n

178,494<\/span><\/p>\n<\/td>\n

\n

Class A – $28.16
\nClass B – $24.07<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

North Central<\/span><\/p>\n<\/td>\n

\n

23%<\/span><\/p>\n<\/td>\n

\n

50,450<\/span><\/p>\n<\/td>\n

\n

Class A – $30.15
\nClass B – $20.73<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Round Rock<\/span><\/p>\n<\/td>\n

\n

16.8%<\/span><\/p>\n<\/td>\n

\n

23,775<\/span><\/p>\n<\/td>\n

\n

Class A – N\/A
\nClass B – $22.80<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

East<\/span><\/p>\n<\/td>\n

\n

16.4%<\/span><\/p>\n<\/td>\n

\n

-4,923<\/span><\/p>\n<\/td>\n

\n

Class A – N\/A
\nClass B – $17.31<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

South<\/span><\/p>\n<\/td>\n

\n

20.9%<\/span><\/p>\n<\/td>\n

\n

16,447<\/span><\/p>\n<\/td>\n

\n

Class A – $24.00
\nClass B – $14.43<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Southwest<\/span><\/p>\n<\/td>\n

\n

8.1%<\/span><\/p>\n<\/td>\n

\n

-40,057<\/span><\/p>\n<\/td>\n

\n

Class A – $32.5
\nClass B – $25.86<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

Visit our Austin Office Space<\/a> website<\/p>\n

Find Office Space in Austin<\/a><\/p>\n

Find Office Space<\/a><\/p>\n

By:\u00a0James Osgood<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As the capital of Texas, Austin is the second largest state capital in the United States, and the fourth largest city in Texas.\u00a0 Located in central Texas, Austin became the capital city in 1838, when it was moved from its original location of Houston. Citizens of Austin, known as Austinites, enjoy a diverse lifestyle, culture,\u2026 Read More »<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[33,5,10,32],"tags":[30,29,31],"class_list":["post-79","post","type-post","status-publish","format-standard","hentry","category-austin-office-space-office-space-market-information","category-office-rental","category-office-space","category-office-space-market-information","tag-austin-office-rental","tag-austin-office-space","tag-office-space-in-austin"],"yoast_head":"\r\nAustin Office Space Market Conditions<\/title>\r\n<meta name=\"description\" content=\"Austin Office Space Market Conditions for office rental or leasing with up to the date office market information.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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