{"id":1004585028,"date":"2022-06-15T03:43:33","date_gmt":"2022-06-15T11:43:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004585028"},"modified":"2022-12-08T17:25:30","modified_gmt":"2022-12-09T01:25:30","slug":"austin-office-development-still-strong","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/austin-office-development-still-strong\/","title":{"rendered":"Austin Office Development Still Strong"},"content":{"rendered":"

\"\"<\/a>The Texas capital has been leading the nation\u2019s office development pipeline for the past year. In April, Austin\u2019s under construction inventory amounted to 10.3 million square feet, according to CommercialEdge<\/strong>.<\/p>\n

The metro\u2019s new-supply pipeline accounted for 11.7 percent of its total stock, representing nearly 7 percent of the nation\u2019s total office space under construction at that time\u2014bolstering Austin\u2019s leading position across all U.S. markets in terms of relative stock. Nashville (8.6 percent) was second on the list, followed by Miami (7.1 percent) and Boston (5.5 percent).<\/p>\n

More than two-fifths of all office space under construction in Austin is part of the downtown submarket. One of the most significant developments currently taking shape in the area is Sixth and Guadalupe, a nearly 1.2 million-square-foot high-rise. Developed by a partnership of Lincoln Property Co<\/strong>., DivcoWest <\/strong>and Kairoi Residential<\/strong>, the 66-story tower is set to become the tallest structure in the city<\/a>.<\/p>\n

In April, Lincoln Property and DivcoWest, along with partner Phoenix Property Co.<\/strong>, announced that they will break ground on another office development in downtown Austin<\/a>. The Republic will rise 48 stories and offer 833,000 square feet of office space. The announcement came on the heels of the partners securing the property\u2019s anchor tenant, but the name of the company was not disclosed.<\/p>\n

That same month, a joint venture of Carr Properties<\/strong> and Manifold Development<\/strong> also announced the upcoming groundbreaking<\/a> of a 43-story high-rise in the CBD. Dubbed Block 16, the 738,000-square-foot office tower’s completion is set for 2026.<\/p>\n

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

Several office towers are moving forward with construction.<\/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":[1578,21782,21742,21747],"tags":[51047,50674],"class_list":["post-1004585028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-development","category-latest","category-office","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nAustin Office Development Still Strong - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"In April, several downtown office towers moved forward with construction plans, bolstering Austin's active office development pipeline.\" \/>\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-office-development-still-strong\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Austin Office Development Still Strong\" \/>\n<meta property=\"og:description\" content=\"In April, several downtown office towers moved forward with construction plans, bolstering Austin's active office development pipeline.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/austin-office-development-still-strong\/\" \/>\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=\"2022-06-15T11:43:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:25:30+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-office-development-still-strong\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/austin-office-development-still-strong\/\",\"name\":\"Austin Office Development Still Strong - 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