2021 Q3 | Austin Office | Market Report

AUSTIN, Texas - Nov. 8, 2021 - PRLog -- After a challenging year in 2020, and a roller coaster ride to this point in 2021, the future of the Austin market looks very bright. Given the dozens of Fortune 100 companies that have set up regional and primary headquarters in the ATX, it has become abundantly clear that Austin has cemented itself as a hub for "live, work and play." Over the last quarter, we have seen some of the highest demand for office space since pre-Covid levels; and all indications point to that acceleration continuing for the foreseeable future. Austin has become arguably one of the top 3 most dynamic real estate markets in the country. Land is trading at all-time records. Industrial supply is at one of its all-time lowest levels, specifically for larger blocks; and new construction is being leased at a pace previously unseen. Texas is open for business, and we don't see that changing anytime soon.

Office tour activity generally improved in the third quarter; most notably the size of prospect requirements increased. We are now seeing more tours with larger users that seem to be real requirements ready to commit to leases. We recently compiled a list that included... Read more at http://texas.colliers.com/austin-office-report