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As the South Austin office space for lease market continues to change, it is important to stay up to date on the current market trends.
South Austin has historically been known to be more economical for residential and office space needs than other parts of the Greater Austin Area. As the Austin office space market continues to grow, South Austin office space has become in high demand.
A more economical rate is typically found when leasing South Austin office than office space further North and West. The current average lease rate in South Austin is $24.15/sf which ranges from the low $20s for the most cost efficient buildings up to $30/sf for Class A office space.
The South Austin office space market only has a 5.3% vacancy rate, this is due to companies flocking to the area for cheaper rent. South Austin offers quick access to Interstate 35, Highway 71, and Highway 290. From the most southern portion of the South Austin office space submarket, there is easy access to the MoPac Expressway (Loop 1) and the Highway 45 Toll Road, which are planned to be connected soon.
33 multi-tenant office buildings consisting of nearly 1.7 million square feet of office space make up the South Austin market.
For more information on current office space availabilities or the Tenant Representation Services that can help you navigate the South Austin office market, simply contact us by phone or email. If you are trying to find South Austin office space for lease, please fill out the “Free Commercial Space Survey” to get a customized list of the South Austin office space that best fit your needs.