Figures
Austin Office Figures - Q4 2024
January 10, 2025 5 Minute Read
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- The Austin office market concluded the year on a positive note, recording an impressive 148,825 square feet of positive net absorption in Q4 2024.
- Average gross asking rents across all class types rose $0.12 quarter-over-quarter.
- As of December, more than 80 tenants are actively seeking space totaling over 2.5 million sq. ft.
- New construction starts continued to stall, with zero groundbreakings occurring in Q4 2024.
- Two projects completed construction this quarter, delivering over 300,000 sq. ft. of new Class A office space to the market.
- Austin ranked first in the nation in return-to-work efforts with an average building occupancy rate of 79.5% as of December 16th, 2024, according to Kastle Systems’ weekly Back to Work Barometer.