{"id":1004547395,"date":"2021-08-30T05:37:20","date_gmt":"2021-08-30T13:37:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004547395"},"modified":"2022-12-08T15:59:23","modified_gmt":"2022-12-08T23:59:23","slug":"austin-market-update-office-vacancy-continues-to-fall","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/austin-market-update-office-vacancy-continues-to-fall\/","title":{"rendered":"Austin Market Update: Office Vacancy Continues to Fall"},"content":{"rendered":"

\"\"<\/a>In July, Austin\u2019s office vacancy rate shrunk for the third consecutive month<\/a>, reaching 16.1 percent, according to CommercialEdge data. That’s a 30-basis-point drop month-over-month, as well as a 670-basis-point increase compared to the same period in 2020.<\/p>\n

Austin\u2019s vacancy is slightly below the national average of 15.5 percent, which saw a 10-basis-point drop month-over-month. The metro is among the Sun Belt cities that have experienced population influx and economic growth in the past years, a trend that accelerated with the pandemic-induced migration flow. With a nation-leading pipeline relative to stock, Austin\u2019s decreasing vacancy is another testament of the metro\u2019s strength<\/a>.<\/p>\n

Secondary growth markets, such as Charlotte (15.2 percent) and Phoenix (17.7 percent) have similar vacancy rates to that of Austin, while primary, mature markets, such as Atlanta (19.9 percent), Dallas (19.4 percent) and Houston (23.5 percent) are lagging.<\/p>\n

Downtown Austin\u2019s office vacancy exceeded the metro\u2019s overall rate by 2.3 percent. Austin East (31.8 percent) remains the submarket with the highest vacancy, followed by Northwest (22 percent) and Northeast (19.6 percent). Round Rock (6.1 percent) overpassed Austin North (6.5 percent) in July, becoming the submarket with the lowest vacancy.<\/p>\n

CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report <\/em>here<\/em><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The rate declined for the third consecutive month despite the metro\u2019s market-leading pipeline, according to CommercialEdge.<\/p>\n","protected":false},"author":739,"featured_media":1004545005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,22251,21742,21747],"tags":[51047,50674],"class_list":["post-1004547395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-in-focus","category-latest","category-office","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nAustin Market Update: Office Vacancy Continues to Fall - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/austin-market-update-office-vacancy-continues-to-fall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Austin Market Update: Office Vacancy Continues to Fall\" \/>\n<meta property=\"og:description\" content=\"The rate declined for the third consecutive month despite the metro\u2019s market-leading pipeline, according to CommercialEdge.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/austin-market-update-office-vacancy-continues-to-fall\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-30T13:37:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T23:59:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"930\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/austin-market-update-office-vacancy-continues-to-fall\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/austin-market-update-office-vacancy-continues-to-fall\/\",\"name\":\"Austin Market Update: Office Vacancy Continues to Fall - 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