Austin office insight - Q2 2018
Construction activity remains robust around the city, with 4,161,008 s.f. under construction, approximately 52% of which is preleased. However, there is a clear concentration, with CBD, East, and NW making up more than 67% of all active construction. Of the citywide development underway, 1,023,127 s.f. is expected to deliver in the next quarter. Some of these buildings will deliver large chunks of inventory, including Third + Shoal (CBD – 345,000 s.f.), Preserve at 620 (FNW – 245,567 s.f.), and Parmer 3.4 (NE – 116,000 s.f.). In addition, two buildings broke ground in Q2 2018 – Block 71 (CBD – 678,923 s.f.) and Domain 12 (NW – 320,102 s.f.) – for a total of 999,025 s.f.