As the Central Austin office space for lease market continues to change, it is important to stay up to date on the current market trends.
The Central Austin office space market has historically been a more economical alternative to leasing office space near Downtown Austin with all of the perks associated with a centralized location. As with all submarkets of Austin office space, the Central Austin office space market is currently in high demand. The Central Austin office space market currently consists of nearly 40 multi-tenant office buildings with a total of over 2,246,769 square feet of office space.
The average vacancy rate for Central Austin office space is 12.5%, which is slightly higher than the citywide average. The average lease rate is $25.22/sf. These rental rate averages range from approximately $18.25/sf for Class C office space to over $31.73/sf for Class A Central Austin office space.
The Central Austin office space market is well known for encompassing the University of Texas and having lots of medical office space. Much of the area is undergoing gentrification as well. The Central Austin office space submarket is defined with having the borders of Interstate 35 to the east, the MoPac Expressway to the West, Highway 183 to the north, and Martin Luther King Boulevard to the South.
For more information on current office space availabilities or the Tenant Representation Services that can help you navigate the Central Austin office market, simply contact us by phone or email. If you are trying to find Central Austin office space for lease, please fill out the “Free Commercial Space Survey” to get a customized list of the Central Austin office space that best fit your needs.