Report | Austin Office Insight - Q4 2015
It was a record setting year across the Austin office market—one that's surely not soon to be forgotten.
The city closed the year with the nation's second highest amount of absorption at 4.6 percent (equivalent to 2.3 million square feet). In its history, Austin's never seen a greater amount of absorption over a 12-month period than it did in 2015.
We expect this record-setting absorption pace to continue—especially in the top CBD, Northwest and Southwest submarkets—through the first half of 2016 as large leases executed in early 2015 will finally commence.
We're hearing that tenants are increasingly looking outside the CBD for space, turning to places like the aforementioned Northwest submarket to find suitable space while demand market-wide remains at record levels. Two new large projects are expected to bring additional inventory to this submarket in the first quarter of 2016.
Learn more about what's happening—and what we expect to occur in the coming months—in the Austin office market in our Q4 US Office Insight.
To access the report, simply complete the form.