Report | Austin Office Insight - Q1 2016
Citywide Class A rents took a major leap forward in Q1, with the majority of growth coming from via base rent and operating expense jumps.
Year-over-year, operating expenses rose $2.13 per square foot (12.9 percent) downtown and $0.69 p.s.f. (5.5 percent) in the suburbs. Real estate property tax hikes drove the increase as many properties were reevaluated to reflect higher valuations.
Investors looking to enter the market appear to finally have more options. Several large portfolio owners have recently brought their offerings to market, creating increased competition across this traditionally tight market.
Learn more about what’s happening right now in Austin—and what we can expect over the next couple months—by downloading our Q1 2016 US Office Insight.
To access the report, simply complete the form.