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As the North Austin office space for lease market continues to change, it is important to stay up to date on the current market trends.
The North Austin office space market has been one of the underperforming submarkets in the Greater Austin area. This is due to is being too far north to benefit from the energetic Downtown Austin appeal yet too far south to cater to the Williamson County crowd, many of which work for Dell in Round Rock, TX. Due to this, it is a more economical submarket to lease Austin office space. The North Austin office space market currently consists of over 30 multi-tenant office buildings with a total of over 1,619,764 square feet of office space.
The average vacancy rate for North Austin office space is 14.6%, which is higher than most other submarkets of Austin office space. The average lease rate is $20.07/sf. These rental rate averages range from approximately $14.63/sf for Class C office space to over $22.84/sf for Class A North Austin office space.
The North Austin office space market extends from Highway 183 up to the Travis / Williamson County border at Texas Highway 45. Both Interstate Highway 35 and Texas State Highway 1 straddle it east to west. As with most areas of Austin, TX, the North Austin office space market is undergoing gentrification.
For more information on current office space availabilities or the Tenant Representation Services that can help you navigate the North Austin office market, simply contact us by phone or email. If you are trying to find North Austin office space for lease, please fill out the “Free Commercial Space Survey” to get a customized list of the North Austin office space that best fit your needs.