Austin, TX Office Market Overview
Nicknamed Silicon Hills, Austin has witnessed an extraordinary tech boom, and a substantial influx of talent and investment since the 1990s has made it a darling of the startup scene. In fact, a number of Fortune 500 companies have their office spaces in Austin, including Oracle, IBM, Dell, Intel, 3M and Texas Instruments. Industry giants such as Amazon, Apple and Google are also present in the city.
The Austin market is firing on all cylinders, having added 12 million square feet of office space since 2014 and with roughly 74.5 million square feet of new office space currently under construction. The city is also attracting biotech and pharmaceutical companies.
Here, nearly half of all residents 25 years or older have a bachelor’s degree. As such, Austin’s educational attainment levels exceed both the national and state-level averages. The city also hosts several higher-education institutions, such as the University of Texas at Austin, Texas Health and Science University, The Art Institute of Austin, and a local branch of Virginia College.