2021 Q3 Austin Office Snapshot

Overview

Strong net absorption in new construction moved the year-to-date net absorption into positive territory. Almost one million square feet were absorbed in the third quarter, bringing the total net absorption year-to-date to a positive 672,864 square feet. With this strong demand, the total vacancy rate moved lower to 15%. Class A net absorption has been positive throughout 2021 with 1,208,559 square feet, while both Class B and Class C were negative at 511,826 and 23,869 square feet, respectively.