2022 Office Space Rent & Sales
- $41.51 2022 Avg. Asking Rent
- -3.57% Y-o-Y Avg. Asking Rent Change
- 22.32% 2022 Office Vacancy Rate
- $1.1B2022 Total Office Sales
- $356.97Avg. Sale Price/SF
Austin office price per square foot in 2022 was $41.51 on average. This marked a -3.57% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 22.32% across all asset classes combined. The 36 transactions that closed here throughout 2022 amounted to a total sale volume of $1.1B. Austin office space commanded an average sale price per square foot of $356.97.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Austin Class A & A+ Office Space$48.58
- Austin Class B Office Space$35.26
- Austin Class C Office Space$33.07
- Texas Class A & A+ Office Space$36.30
- Texas Class B Office Space$24.60
- Texas Class C Office Space$20.70
Austin, TX Office Asking Rents by Class
Average office rent in Austin rested at $41.51 per square foot in 2022. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Austin averaged $48.58 per square foot. Across all submarkets, class B office space recorded an average asking rent of $35.26 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $33.07 per square foot, on average. Comparably, statewide Texas average office rents by class in 2022 were: $36.30 per square foot for class A office space; $24.60 per square foot for class B office space; $20.70 per square foot for class C office space.
2022 Office Vacancy Rates in Austin
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Downtown | $58.76 | 19.64% |
South | $47.82 | 43.22% |
East | $46.34 | 25.82% |
West Central | $42.49 | 14.82% |
Cedar Park | $38.64 | 17.26% |
Southwest | $38.58 | 20.18% |
North | $38.44 | 10.80% |
Northwest | $37.98 | 29.82% |
Southeast | $37.08 | 10.17% |
Round Rock | $34.22 | 5.32% |
Central | $32.23 | 11.52% |
Hays County | $31.44 | 17.59% |
Northeast | $29.92 | 24.49% |
Austin Office Sale Price per SF
- $356.972022 Avg. Price per SF
- -21.93%Y-o-Y Avg. PpSF Change
- $1.1B2022 Office Sales Volume
- 362022 Number of Transactions
Austin, TX Sale Price per SF Trend
- Austin Avg. Sale Price per SF in 2022$356.97
- Texas Avg. Sale Price per SF in 2022$181.27
2022 Office Sales Volume
- Austin, TX Total Office Sales Volume in 2022 $1.1B
- Austin, TX Total Number of Office Sales Closed in 2022 36
Largest Austin Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
1000 Red River Street | 1000 Red River Street | 10/5/2022 | $108,000,000 |
Anderson Tower | 400 East Anderson Lane | 7/28/2022 | $13,000,000 |
Creekside | 4001 West Parmer Lane | 8/18/2022 | $10,000,000 |
4000 Medical Pkwy | 4000 Medical Pkwy | 5/11/2022 | $6,277,600 |
Coworking Spaces in Texas
- Houston Coworking Space
- Atlanta Coworking Space
- Dallas Coworking Space
- Austin Coworking Space
- San Antonio Coworking Space
- Plano Coworking Space
- Fort Worth Coworking Space
- Irving Coworking Space
- Frisco Coworking Space
- Sugar Land Coworking Space
- Arlington Coworking Space
- Katy Coworking Space
- McKinney Coworking Space
- Lubbock Coworking Space
- Spring Coworking Space
- Allen Coworking Space
- Richardson Coworking Space
- El Paso Coworking Space
- Addison Coworking Space
- Coppell Coworking Space
- Denton Coworking Space
- Grapevine Coworking Space
- Southlake Coworking Space
- Amarillo Coworking Space
- Conroe Coworking Space
- Keller Coworking Space
- Pearland Coworking Space
- Round Rock Coworking Space
- The Colony Coworking Space
- Waco Coworking Space
2022 Office Construction in Austin, TX
- Austin, TX Total SF completed in 2022 4,068,615
- Austin, TX Total SF under construction in 2023 4,129,783
During 2022, 4,068,615 square feet of new office space were delivered across the market. At the close of 2022, the Austin office inventory included 16 buildings equal to or larger than 25,000 square feet, which comprised 4,068,615 square feet of office space. Looking forward, development activity throughout 2023 is estimated to add 4,129,783 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
Sixth and Guadalupe | 400 West 6th Street, 78701 | 599,096 | 2023 |
6 X GUADALUPE | 400 West 6th Street, 78701 | 589,662 | 2023 |
SYMPHONY SQUARE | 1117 Red River Street, 78701 | 170,000 | 2023 |
1301 South Lamar | 1301 South Lamar Blvd, 78704 | 145,000 | 2023 |
Uptown ATX Bldg 908 | 11501 Burnet Road, 78758 | 144,249 | 2023 |
The Offices at Four Points | 7710 North FM 620 Road, 78726 | 129,137 | 2023 |
1401 Philomena @ Mueller | 1401 Philomena Street, 78723 | 126,500 | 2023 |
T3 ATX Eastside | 1200 East 4th Street, 78702 | 102,200 | 2023 |
Victory Plaza on Burnet | 5209 Burnet Road, 78756 | 88,377 | 2023 |
1515 | 1515 East Cesar Chavez Street, 78702 | 71,632 | 2023 |
Worth noting among recent office completions on the Austin market is Sixth and Guadalupe, which is currently the largest new office development in the city, at 599,096 square feet.
See reports for other markets
- Houston Office Rent Price
- San Antonio Office Rent Price
- Dallas Office Rent Price
- Fort Worth Office Rent Price
- Plano Office Rent Price
- Irving Office Rent Price
- Richardson Office Rent Price
- The Woodlands Office Rent Price
- Arlington Office Rent Price
- West Lake Hills Office Rent Price
- San Francisco Office Rent Price
- Washington Office Rent Price
- Chicago Office Rent Price
- Los Angeles Office Rent Price
- Denver Office Rent Price
- Seattle Office Rent Price
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Austin commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.