Austin Office Market Figures Q2 2022
July 12, 2022
- Austin’s office recovery continued as over one million sq. ft. of positive net demand took place in Q2 2022.
- Strong net demand caused vacancy to dip 40 basis points (bps) quarter-over-quarter.
- Demand for premium office space continued as Class A average asking rents climbed over $1.00 per sq. ft. quarter-over-quarter in five submarkets across the metro.
- Roughly 973,000 sq. ft. of office space completed construction, while over one million sq. ft. broke ground in Q2 2022.