Austin, TX Office Overview
Among Austin's densest commercial real estate submarkets are the Downtown Central Business District, Barton Hills, and Colorado Crossing. With a metropolitan population of just over 2 million people, the city carries the well-deserved nickname of 'Silicon Hills', describing the importance of technology, pharmaceutical, and biotechnology industries to its development.
As of mid-2017, the Greater Austin market encompasses over 56 million square feet of office space, in properties larger than 50,000 square feet. As the capital of Texas and the fourth-most populous city in the State, the commercial real estate market in Austin sees robust demand for office space from the numerous technology companies headquartered in the metro area.
Austin, TX Office Inventory Description
Austin is considered a major center for the high-tech industry and is also home to Whole Foods’ world headquarters. With a gross metropolitan product of over $117 billion annually, the demand for office employment is strong. Over 54% of the inventory is made up of Class A buildings, with Class B space adding another 45%.
The Downtown Business District and the SoCo District along Lady Bird Lake see some of the strongest demand for Class A workspaces, and are home to prestigious properties such as Lakeshore Tower on Barton Springs Road, and the Frost Bank Tower and San Jacinto Center.
Austin, TX Commercial Inventory Breakdown
Office Spaces
Total: 110,436,294 SF
By square footage range:
- 50k to 100k SF: 16,882,672 SF / 15.29% of total office
- 100k to 500k SF: 65,847,409 SF / 59.62% of total office
- 500k to 1M SF: 19,506,827 SF / 17.66% of total office
- > 1M SF: 8,199,386 SF / 7.42% of total office
By class:
- Class A+: 5,387,101 SF / 4.88% of total office
- Class A: 45,150,882 SF / 40.88% of total office
- Class B: 29,985,074 SF / 27.15% of total office
- Class C: 1,622,615 SF / 1.47% of total office
Top 10 Largest Office Buildings
in Austin
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 3M Austin Center | 6801 River Place Blvd, 78726 | 1,500,000 | 1988 |
| Silicon Hills | 6801 River Place Blvd, 78726 | 1,249,536 | 1989 |
| Oracle - Waterfront Campus | 2300 Oracle Way, 78710 | 980,000 | 2018 |
| 7700 Parmer | 7700 West Parmer Lane, 78729 | 911,574 | 2000 |
| The Summit at Lantana | 7171 Southwest Pkwy, 78735 | 812,350 | 2006 |
| INDEED TOWER | 200 West 6th Street, 78701 | 719,600 | 2021 |
| Dell Parmer South Campus - PS2 & PS3 | 701 East Parmer Lane, 78753 | 709,789 | 2001 |
| Indeed Tower | 200 West 6th Street, 78701 | 708,438 | 2021 |
| National Instruments Corporate Headquarters | 11500 North Mopac Expwy, 78759 | 624,856 | 2001 |
| Austin Centre | 701 Brazos Street, 78701 | 598,187 | 1986 |
Largest Office Properties Recently Completed
in Austin
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Indeed Tower | 200 West 6th Street, 78701 | 708,438 | 2021 |
| The Quincy | 93 Red River Street, 78701 | 396,475 | 2021 |
| 300 Colorado | 300 Colorado Street, 78701 | 368,798 | 2021 |
| RiverSouth | 401 South 1st Street, 78704 | 350,611 | 2021 |
| Domain Tower II | 10721 Domain Drive, 78758 | 339,200 | 2021 |
| Mueller Office Campus - Austin Energy HQ | 4815 Mueller Blvd, 78723 | 274,282 | 2021 |
| Austin Continuum | 14231 Tandem Blvd, 78728 | 254,806 | 2021 |
| Alpha Building @ Mueller Business District | 1900 Aldrich Street, 78723 | 236,428 | 2021 |
| Eastbound | 3232 East Cesar Chavez Street, 78702 | 233,577 | 2021 |
| 1836 San Jacinto | 1836 San Jacinto Blvd, 78701 | 225,182 | 2021 |
Austin, TX Green Office Space
While not yet ranking in the Top 30 Green Office Markets in the U.S., green workspaces are on the rise, with more than a dozen projects scattered throughout the metropolitan area.
The Whole Foods Office Tower on Domain Drive in Austin is a prime example of a LEED-certified building. With over 280,000 square feet of space on eight floors, the building hosts a Whole Foods Market on the ground floor. With both national and global investors seek out energy-efficient assets for their use and portfolios, this trend for low-emission green properties will likely continue its growth in Austin.
The 2017 National Green Building Adoption Index looked at commercial properties in 30 major U.S. markets and found that, including EPA Energy Star-labeled buildings, the percentage of green certification has increased from under 5% in 2005 to 38% as of mid-2017.
Austin, TX's Top Office-Using Sectors
While currently a major high tech center, Austin is also emerging as a hub for the pharmaceutical and biotechnology industries. These three business sectors combined create a major demand for Class A office space in the area.
- High Technology – companies such as Dell, IBM, Cisco Systems, eBay, and PayPal.
- Pharmaceutical & Health Care – ranked as the #12 center for biotech and life science companies in the U.S., the city hosts companies such as AnthroCare Corporation and Pharmaceutical Product Development.
- Biotechnology – companies such as BioWare, Life Technologies, Oppenheimer Biotechnology, and XBiotech.
- Corporate Offices – for companies such as Freescale Semiconductor, National Western Life, Cirrus Logic, and Xerox, which all have significant operations in Austin.
Frequently Asked Questions
How much does office space cost in Austin, TX?
The average office rental rate in Austin, TX is $26.72 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. Check Austin Office Market Trends for more stats.
What is the size of available office spaces in Austin, TX?
The Austin, TX office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 570,170 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Austin, TX is 100 square feet, while the maximum rentable space on the market now is 1,140,240 square feet.
How do I get office space in Austin, TX?
Start your search for office space in Austin, TX by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Austin, TX?
There are 1,242 office listings on the Austin, TX market. See all available office spaces for rent.
Where to rent an office space in Austin, TX?
Popular Austin neighbourhoods with available office spaces include Central Austin, West Austin and North Austin.
What other property types are available for lease in Austin, TX?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
Austin Demographics
Population
- Total Population950,807
- Male Population(50.8 %) 482,605
- Female Population(49.2 %) 468,202
- Median Age33.30
Income/Financial
- Average Household Income$102,876
- Median Household Income$71,576
- Median Income Under 25$30,932
- Median Income 25-44$74,466
- Median Income 45-64$82,467
- Median Income Over 65$58,454
News
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