{"id":1004592880,"date":"2022-07-28T07:02:18","date_gmt":"2022-07-28T15:02:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004592880"},"modified":"2022-12-08T17:47:29","modified_gmt":"2022-12-09T01:47:29","slug":"office-vacancy-in-austin-decreased-through-q2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-vacancy-in-austin-decreased-through-q2\/","title":{"rendered":"Office Vacancy in Austin Declines in Q2"},"content":{"rendered":"

\"\"<\/a>By the end of the second quarter, Austin\u2019s office vacancy hit 15.6 percent, down 30 basis points since the end of the first quarter of the year, according to CommercialEdge<\/strong>.<\/p>\n

While the Texas capital\u2019s office market is continuing its record growth rate compared to most U.S. markets, the metro’s vacancy is keeping pace with new deliveries. On a year-over-year basis through June, Austin saw office vacancy drop 90 basis points.<\/p>\n

The metro\u2019s average in June was close to the national vacancy rate that month, which clocked in at 15.4 percent, down 50 basis points since March. Compared to secondary Sun Belt markets, Austin\u2019s vacancy rate exceeded that of Charlotte (14.7 percent) and Phoenix (13.9 percent), while Dallas (18.0 percent), Nashville (18.0 percent), Atlanta (20.0 percent) and Houston (24.6 percent) recording higher rates in the first summer month.<\/p>\n

One of the notable leases signed during the second quarter of 2022 was tech consulting giant Accenture<\/strong>\u2019s 37,800-square-foot renewal<\/a> at Capital City Partners<\/strong>\u2019 Monterey Oaks office park. Constructed in 1998, the 160,65-square-foot property is located in Southwest Austin and comprises five single-story buildings.<\/p>\n

In June, the Southwest Austin submarket recorded one of the highest vacancy rates in the metro at 18.1 percent, along with Austin East (25.8 percent) and Northwest (26.4 percent). Southeast Austin (6.4 percent), Austin North (9.2 percent) and Cedar Park (9.7 percent) had the lowest rates that month.<\/p>\n

CommercialEdge<\/em><\/a> 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 Texas capital’s growing office pipeline is not increasing vacancy.<\/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":[1578,21784,21742,21747],"tags":[51047,50674],"class_list":["post-1004592880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-brokerage","category-latest","category-office","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nOffice Vacancy in Austin Declines in Q2<\/title>\n<meta name=\"description\" content=\"The Texas capital's office vacancy is keeping up with one of the nation's most rapidly expanding pipeline.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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